David Sheepshanks has been asked to return to the Football League board, however the Town chairman is yet to decide whether he will accept.
The board is currently two men down after West Brom were promoted and Crewe relegated. Sheepshanks' priority is getting Town back into the Premiership and he will weigh-up how this appointment may affect his role at Portman Road. Despite a new chief executive being appointed this summer Sheepshanks is sure to be heavily involved in the day-to-day running of the club.
Sheepshanks says he'll ponder on it for a bit before deciding: "I have been asked if I will stand but I'm taking a few days to think about it.
"My absolute priority is here at Portman Road and the only reason I would go back is on the basis that it is important for Ipswich Town that we have a voice on that table to influence future developments in the game.
"But I have to balance that with whatever the time demands are because Ipswich Town is my priority."
Sheepshanks has also reassured Portman Road staff worried about their jobs now that the club is in the First Division: "We must cut costs not people. We have a very professional staff with no fat on the bone. We are a seven-day venue at Portman Road for conferences and events which all generate revenue."
He now says Town will be £15 million worse off due to relegation, a figure which will have to be made-up via transfer fees and a reduction in player wages. TV payments are down from £17 million to £5.9 million while £2 million is likely to go in commercial revenue. The chairman does expect more money from the Football League, however.