Town are reportedly keen on former striker Jordan Rhodes, who is out of contract at Sheffield Wednesday this summer, with another of his previous clubs Huddersfield also linked.
According to Football League World, the Terriers lead the chase for the the 31-year-old but with the Blues set to offer Rhodes the chance to return to Portman Road.
Rhodes has scored seven times for the relegation-haunted Owls this season having had a frustrating time at Hillsborough having joined them from Middlesbrough for £10 million in the summer of 2017 following a loan spell. Due to a lack of opportunities with Wednesday he spent 2018/19 on loan at Norwich City.
Former Kesgrave High School pupil Rhodes, who joined the Blues as a 15-year-old from Barnsley for £5,000 after his father Andy became keeper-coach at Portman Road, was controversially sold by Roy Keane in the summer of 2009 having made only 10 sub appearances, scoring one goal.
After top-ups and 10 per cent of the sell-on when Rhodes moved from Huddersfield, with whom he had enjoyed a hugely successful spell, to Blackburn for £8 million in August 2012, the fee Town eventually received moved close to £1.5 million.
Town boss Paul Cook plans a major revamp of the Blues in the summer and with the new owners’ cash behind him is expected to look at players who have shown they are capable of playing in the Championship as he rebuilds the squad.
Whether the likes of Rhodes - if there is anything in the claims of interest - or other players in that mould will be willing to step down to League One remains to be seen.