Cork City chairman Brian Lennox has labelled Town's latest bid for George O'Callaghan "disrespectful". The former Port Vale man has been on trial with the Blues for the last four months.
According to reports in Ireland, Town's £50,000 offer is to take O'Callaghan on loan until the end of the season and would not see the midfielder join the Blues on a permanent basis. A previous loan bid of £30,000 is understood to have been turned down at the end of last week.
Lennox said: "This second bid from Ipswich is just too small. It's well below what we are looking for and is disrespectful. We have until the end of January to do any business but it's certainly not a question of us holding out for anything in particular."
Contrary to the quotes attributed to Lennox, the official Cork City website says only one bid has so far been received.
Town are understood to be the only club to have made a firm offer for the 27-year-old, despite interest from SPL side Dunfermline.
Cork, who have continued paying the former Republic of Ireland U20 international's wages while he has been on trial, start pre-season training on Monday when O'Callaghan is expected to report back to the Eircom League club.
The former Port Vale man fell out with Cork boss Damien Richardson in July over a fine imposed on him by the Eircom League side and was placed on the transfer list, joining the Blues on trial in September.