Sheffield Wednesday boss Brian Laws has confirmed that Town offered the Owls a swap deal which would have seen central defender Richard Wood join the Blues. Striker Jon Stead is again reported to be the man who would have moved in the other direction.
Laws said: "I'm not going to deny Ipswich made contact. But we were not interested in the deal they were possibly talking about.
"I spoke to Roy Keane and it was more to do with players swapping. What we would be looking for is cash but we don't have to sell.”
Laws says he is now looking to secure Wood on new terms at Hillsborough: "I'm hoping we can conclude a new contract with him shortly.
"Although we know there is interest out there in Richard, we're happy with him and he's happy here. He's already indicated that he's enjoying his football and wants to get the contract sorted out as much as anyone else."
The Blues may now have to look elsewhere for central defensive additions when the emergency loan window opens next Tuesday.