However, McGhee feels there is an opportunity for McCormack to enhance his reputation by starring for Motherwell in the UEFA Cup, and hopes he will reject the lure of the Premier League for now.
"All I know is that Ross is not committed to anywhere," he said. "There is a lot of interest in him but the interest is at a lower level than he should be entertaining.
"I am going to try to persuade him that another year with us and playing in the UEFA Cup could see him go to clubs that he is only dreaming about.
"I still think Ross is a player for Newcastle or some of the bigger Premiership clubs."