The Rams have been linked with a big-money move for the Ibrox boss.
According to reports, the Championship club were prepared to offer the Liverpool legend a £2.75million salary as well as a mammoth £8million bonus if he led the side to the Premier League.
Current manager Frank Lampard has been given permission to talk to Chelsea regarding the vacant managerial position.
When asked if Gerrard was the next in line, Morris said it was "absolute rubbish".
Instead the Derby owner is concentrating on convincing Lampard to stay.
He told talkSPORT|: “Let’s be blunt, as far as I’m concerned I’m hoping this guy is going to manage us next season. I’m not giving up hope on that at the moment.
“But you’d have to say at some point it will happen – whether it’s now or some point in the future.
“The players come back in on Monday, so we’re in a situation where if something does happen this week, Frank will be our manager next week and we’ll kick on with the season from Monday onwards.
“That makes it very tight in terms of timescale for us, that should Frank move to Chelsea we’ve got to get our skates on."