Town have confirmed that former Blue Pablo Couñago has agreed to rejoin the club. The Spaniard will move on a free transfer from Málaga and will undergo a medical at Portman Road on Thursday, with the deal expected to be completed the following day.
Chairman David Sheepshanks told the club site: "We have agreed personal terms with Pablo and he will be at Portman Road for a medical on Thursday.
"While nothing is ever certain in these things until the ink is dry on the contract, we should be able to unveil Pablo as an Ipswich Town player on Friday.
"Our management team have been to Spain to watch Pablo play and Jim Magilton has spoken to him in depth and been very impressed by what Pablo had to say. I think there is a sense that the player has unfinished business at Portman Road."
TWTD first reported Jim Magilton's interest in bringing the 27-year-old back to Suffolk back in January, but Málaga wanted a £130,000 fee despite the former Celta Vigo man having only six months of his contract left to run.
However, shortly after the close of the transfer window, the Blues boss said he could target his former team-mate in the summer. Reports in Spain last month indicated that the 2002/03 21-goal Town top scorer was keen to return to the Blues and over the weekend TWTD reported that boss Jim Magilton had spoken to his former team-mate about a possible move if the Franny Jeffers transfer broke down, which it did last night.
Couñago joined Málaga on a free transfer from Town in the summer of 2005 after making 69 starts and 52 sub appearances in four years at Portman Road, scoring 36 times.
The former Spanish U21 international had a difficult first season back in Spain with his side dropping out of La Liga, making 28 appearances and scoring three goals.
Last season, in the Segunda División, the former Town number nine netted seven times in 27 games.
Couñago's 2005 release by Town followed a falling out with former boss Joe Royle, the Blues having spent his final season trying to off-load his wages which approached £20,000-a-week. The Spaniard's new deal is likely to be significantly lower than that figure and well short of the £10,000-a-week requested by Jeffers.
The club say Jim Magilton's next addition to the squad is likely to be a midfielder, although Town are understood to be in talks with former Cardiff keeper Neil Alexander regarding a free move to Portman Road.
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