Town chairman David Sheepshanks has revealed that the Blues have made an enquiry regarding former midfielder Darren Ambrose, however an immediate deal does not look on the cards.
Sheepshanks told the club site: "We have spoken to Newcastle about Darren Ambrose and the prospect of having him back here on loan.
"Newcastle have their worries about his fitness levels at the moment, with Darren being injured previously. So for the immediate term they want him to stay at St James' Park.
"But in the medium term, there is a possibility something could be sorted out."
Ambrose has been suffering with shin splints in the early part of this season.
Sheepshanks has also commented on Ambrose's controversial exit from Portman Road in March: "I accept that it was an appalling fee for Darren and we clearly did not want him to leave the club.
"It was one of the worst days of my life when that deal was done but we had to sell him. We were forced to, there was no alternative and the money we received from Newcastle for Darren actually saved Ipswich Town."
The sales of Ambrose and Hermann Hreidarsson allowed administration hit Town to pay the wage bill during April and May.