Dundee United manager Craig Levein says his club would turn down a bid from Town for midfielder Morgaro Gomis if one was made. The Blues have been widely reported to be ready to offer £800,000 for the Senegalese international.
Levein said: "I don't even know if Ipswich are going to make a bid, but that sort of figure will just be knocked back.
"Ipswich haven't made a bid for Morgaro. It's not something as the manager I would welcome. I do understand that if your players are playing well then there are other teams who would be interested in them.
"I also tell the players to use Dundee United as a springboard to go on to bigger and better things.
"What I'm annoyed about, looking at the figure mentioned in the papers, is that £800,000 is nowhere near the value we place on Morgaro Gomis."
Earlier today, Town manager Roy Keane was quoted as saying that the Blues would not be making any more purchases during the transfer window.