David Sheepshanks has warned fans not to expect a huge influx of new signings in the wake of Town receiving their £2.58 million share of the Darren Bent transfer fee. The chairman says the club will be “deliberate and strategic” in their use of the windfall.
Sheepshanks told the club site: "Happily, all good things come to those who wait and, while it has been a protracted process, clearly the news about Darren is tremendous for the club.
"We can view this sell on fee as the second instalment of the original sale of Darren to Charlton that, in aggregate, now rises to £5.5 million.
"This windfall enables us to invest further in Jim's team building plans, however, fans should be clear that the money is not paid in a lump sum, but over a two-year period in proportion to the payment terms agreed between Charlton Athletic and Tottenham Hotspur.”
Sheepshanks says that Franny Jeffers remains the Blues' number one target, but hints that the Town may be becoming frustrated with Blackburn's intransigence: "We have repeatedly said that we would like to sign Francis Jeffers and nothing has changed in that respect.
"However, we will not be held to ransom. We have made a very good offer to Blackburn Rovers that provides them with a major stake in his future career on top of a realistic guaranteed fee.
"I still hope that we can agree terms for Franny to join us permanently, but if this doesn't happen Jim Magilton has a number of other players in his sights that he would like to bring to the club.
"Because the money involved is spread over a period of time it is not burning a hole in our pocket and it is important that we are deliberate and strategic in using it to our best advantage."
Meanwhile, Scottish reports are linking the Blues with Dunfermline keeper Dorus de Vries. The out-of-contract 26-year-old former Dutch U21 international is also reported to be interesting Wigan Athletic, West Brom and Swansea City.
Town are known to want a new goalkeeper over the summer with Richard Wright strongly tipped to return to Portman Road, although reports in Wales claim Cardiff City are interested in the former Arsenal and Everton man.
Get the fastest and most comprehensive Ipswich Town news service at ipswichtown.footballlatest.co.uk.