Former Academy product Lee Beevers is being linked with Town and a number of other Championship sides. The Boston central defender was a team-mate of Darren Bent, Ian Westlake and Lewis Price as a youngster but was released in 2002/03.
It seems unlikely that Town would go back for Beevers who is also reported to be interesting QPR and Crewe.
Beevers might have been given longer to prove himself at Portman Road had the club's financial circumstances been been better.
Elsewhere, ex-Town midfielder Kieron Dyer is being linked with Manchester United. The Blues would receive an undisclosed percentage of any profit Newcastle might make on the £6.5 million Town received for the England international.
Titus Bramble is also reported to be on his way out of St James' Park.