Arsenal are being linked with the youngster today.
McCarthy said: "Tyrone has been excellent for us.
"Crystal Palace made a big offer for him before the transfer window closed but we want him here for the long term.
"He's a young, exciting player who has made a lot of progress in his time here and it's great to see that his form has been noticed with this award.
"We've acknowledged that as a club too, which is why we offered him a long term deal. He's done great."
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