Millwall have signed Southampton defender Jos Hooiveld on loan for the rest of the season.
England midfielder Fabian Delph explains the reason behind his decision to commit his future to Aston Villa.
Just 18 years old, McGahey has shone for the first team in recent weeks having been promoted through the ranks due to his impact on the Seasiders' under-18s team.
McGahey is one of three younger players to have been offered new terms and Ferguson believes Blackpool, whose Sky Bet Championship status is not yet secured with a game remaining, should do everything in their power to keep him.
He said: "Blackpool have one hell of a player on their hands and they need to get him sorted out, otherwise they'll miss out on a top player.
"It's important because he's an excellent player. He's such a grounded boy and I like that. He's last off the training pitch and he still helps the staff bring the kit in.
"That makes me smile because you don't see that too often. He cleans my boots too! I like him a lot."