Town boss Joe Royle says he is continuing to make progress towards capturing a loan player in time for the Blues' next league game with Coventry City a week on Saturday.

Royle says he expects something to happen before the weekend: "I am making progress and I think we might see something happen later in the week.

"I still haven't spoken to the player, although talks with his manager are going well. I'm not naming names at this stage in case we give other clubs ideas."

Should Town make a signing before Saturday's FA Cup tie with Sunderland the new man would not be able to play as he would need to be registered seven days in advance of the match.

Royle says that although the club's share issue won't give him a warchest with which to bring in players, more loans and free transfers are likely: "I can't see me being given a transfer budget as such. I think I will be doing loan deals and maybe picking up the occasional free transfer.

"The cash from the share issue will be used to stabilise the club's finances. It is a big recovery job."

Town will announce the results of the share issue later this afternoon.

Photo: Action Images

Ipswich Town Polls