"We are positive about the fact we will get a licence extension on the terms we are looking for."
Most of the terms are confidential given the negotiations are ongoing and Morrison wouldn't be drawn on what length they were seeking for their licence.
"It's fair to say that we think we should be treated the same as the other Australian clubs. We are part of a 10-team competition so we should be treated the same."
Merrick joined the Phoenix on a two-year deal, with an option for a third, before the 2013-2014 season and Morrison said retaining his services was a crucial building block for the club.
"When we first signed Ernie we wanted a coach that was capable of delivering attractive, possession-based football and Ernie has delivered," Morrison said.
The Phoenix missed the playoffs during their first campaign under Merrick last season but are sitting in fourth place this summer and have been one of the A-League's most entertaining teams.
"I just see tremendous positives and a really good future for this club, so it was a no-brainer for me to decide to stay on," Merrick said.
The 62-year-old said he had received some informal approaches about his services but remained committed to the Phoenix and wasn't worried about the licence renewal.
"I think we've got so many of the right things in place to achieve something," Merrick said. "So, over the next two or three years, we really want to achieve something, starting this year."
Greenacre, who scored 19 goals for the Phoenix in 84 games from 2009-2012 during the final chapter of his lengthy playing career before he moved to a coaching role, said it was an easy choice to stay with the club.
"I couldn't sign quick enough, to be honest," he said.
There's also the potential that Greenacre could succeed Merrick in the future but on-field results would likely determine that.
The Phoenix's next game is against Adelaide United at the Hutt Rec on Saturday.