Town manager Joe Royle has refuted a recent report which claimed Jim Magilton is set to move back to the North West in the summer.
Royle says he is aware that Magilton has bought a new house in the Southport area but says this doesn't mean he is on his way: "I've heard the stories about Jim buying a house in Southport and I can confirm they are true.
"But that doesn't mean he won't be playing for us next season. I have a house in Ormskirk, which is about six miles from Southport, and I'm the Ipswich manager!
"We have had a long chat, Jim and I, and he's simply bought a base for when he retires."
The Northern Irishman is out of contract in the summer but Town will offer him a new deal. With an eventual move to the North West clearly in his plans, Magilton may weigh up any offers which come from clubs in that area. Wigan are said to be interested if he does decide to leave Portman Road.