Blackpool boss Steve McMahon has signed a new deal with Blackpool.

Former England and Liverpool midfielder McMahon has penned a 12-month rolling contract.

He has just chalked up three years in charge at Blackpool.

"The most important thing is I'm happy to stay as things here are moving forward," he told BBC Radio Lancashire.

"It means that if I want to walk away, I can do, or if the club wants to get rid of me, they'll have to pay.

"And if another club wants me, then they'll have to pay Blackpool - so the deal suits all parties."

Meanwhile, Blackpool are set to sign Preston goalkeeper Andrew Lonergan in a three-month loan deal.

Lonergan is on England under-20 duty against Germany on Thursday and will then report to Bloomfield Road on Friday to complete his switch from Deepdale.

Seasiders' boss Steve McMahon is bringing in the 19-year-old, who also had a brief spell on loan at Darlington earlier this season, as competition for Phil Barnes following an injury to Michael Theoklitos.

"He will be pushing Barnsey and he knows he has a hell of a job now to keep him out.

"He's a good young keeper and that's what we want - two keepers ready for the fight," McMahon told his club's website.