Khan, an American-based billionaire and also owner of NFL side the Jacksonville Jaguars, purchased the Cottagers for a reported fee of £200million last summer from Mohamed Al Fayed.
In his relatively short stay so far at Craven Cottage, Khan has already sacked managers Martin Jol and Rene Meulensteen, but Fulham remain rooted to the foot of the table with Championship football next season looking increasingly probable.
The Cottagers have managed just one win from their last 12 league outings and five points separate themselves and 17th-placed West Brom.
Substantial falls in revenue would hit Fulham if they were to drop out of the top flight, but Magath insists that Khan will stay committed for the future.
"He is a successful businessman and he knows that sometimes things do not go well," he told the London Evening Standard.
"In one of my first meetings here, the owner said he wanted to make Fulham a top-10 team in the Premier League. That he wants to develop the club and the team into one that play European football. That is still the case."
Magath replaced Meulensteen on an 18-month contract in February and, despite recent speculation suggesting that he may face the axe, the former Wolfsburg boss is not fearful of his own future.
"I had a phone call with the owner on Wednesday and everything is fine," he said.
"He knows the situation and how things work. I am here to build a team - that was clear from the beginning. I will be here next season."