I think Morgan may have priced himself out of a move with the new contract last summer.
He's very good for us, but I'm not convinced top-six clubs are looking to drop those wages on a player like him, i.e. mid-20s, blows a bit hot and cold, lessening resale value and edging further away from the England squad.
I agree that I'd be more disappointed with Murillo going because part of me feels that McAtee could step into a MGW void, but I'm not sure Cunha (or maybe Bindon) are ready to start PL matches regularly. Morato for Murillo would be heartbreaking.