The journalist, who holds a season ticket for the Emirates, spoke to Tony Livesey on BBC Radio 5 live, and called for the Arsenal manager to step down immediately.
Morgan said: “Arsene Wenger should resign. He should do it now so that we have a chance of reinvigorate the team and we could come fourth and qualify for the Champions League.
“The club is going backwards. Arsenal are supposed to be a big club. I don’t think we are going to come fourth.
“This is the worst season we have had under Wenger. More than that, we have sold our two best players. We are a selling club.
“Wenger was a brilliant manager. He was the best we have had. He is not the same man now. We are not a competitive team any more.”