Ipswich Town manager Mick McCarthy will not stand in the way of Aaron Cresswell if a big bid is received for the highly-rated left-back in January.

The 23-year-old signed a contract extension until 2017 on Wednesday, but McCarthy – who has regularly called the Liverpudlian ‘the best left-back in the Championship’ – knows there could be Premier League interest when the transfer window reopens in the New Year.

“Cressy’s been rewarded with a great deal, because he’s been outstanding, and it’s a great deal for the club too because it protects us,” said the Blues boss. “It means he won’t be leaving on a Bosman. If he ever does have to leave then somebody will have to pay the right chunk of money.

“It’s always the same. If it’s the right deal for him and for the club then it happens.”

Cresswell has missed just five games out of a possible 117 during his two-and-a-half years at Portman Road and currently leads the Championship assists charts with nine.

“Suppose Everton sold Leighton Baines and they then came here and offered eight million quid for Cressy? And Cressy, being a Scouser, says he wants to go back. What do you do?” said McCarthy.

“You can’t stop progress when it’s a proper deal and a good deal for everybody concerned because you end up with resentment and a player that’s not happy. It just messes everything up.

“Everybody is for sale all around the world.

“Real Madrid spending one hundred million on Gareth Bale is proof of that.”

Cresswell was the subject of a formal enquiry from Aston Villa in the summer of 2012, while the likes of West Brom and Fulham have been linked more recently. Asked if there was likely to be bids for the left-back next summer, McCarthy replied: “That could still be an issue in the New Year, who knows? But he’s under contract so nobody can come and nick him.

“The nicest thing for me is that he’s happy, he wanted to sign a new contract, stay here and play his football here. Who knows, we might get in the play-offs and be pushing for a promotion spot. That would be the ideal thing.”

Town have so far paid £420,000 of a tribunal-set transfer fee to Tranmere Rovers, while they would have to hand over a further £100,000 should they gain promotion to the top-flight this season. The League One club would receive 20% of any profit the Blues make on Cresswell.