Town have begun talks with manager Jim Magilton regarding his new contract. On Saturday TWTD reported that the Blues boss would be offered a new deal to extend his stay beyond the end of his current contract which is up at the end of this season.

Chairman David Sheepshanks said: “We are in discussion with Jim about a new contract and hopefully something will be agreed very soon.”

Magilton hailed yesterday's takeover news as huge for Town's future: “It's very exciting. Probably the best news this club has ever had and I certainly welcome the new investment.”

Although £12 million will come into the club once the deal with Marcus Evans is complete, it is unlikely that all that figure will be used for fees and Magilton, very careful with his cash in the transfer market up to now, will probably not want to spend a huge amount in one go and risk upsetting the balance in the dressing room.

One player the Town boss could target in January is Hibs defender Rob Jones. Magilton watched the 6ft 7in tall 28-year-old in action against Celtic in September and was impressed.

Jones, reportedly unsettled in Scotland, started his career with non-league Gateshead and was working as a PE teacher before moving on to Stockport County for £5,000 in 2003, a spell which saw him spend time on loan at Macclesfield.

In July 2004 a free move to Grimsby followed, during which time Jones made 64 starts and four sub appearances, netting five goals.

Former Town skipper and coach Tony Mowbray was clearly impressed by Jones's spell with the Mariners and in June 2006 he brought him to Easter Road for an undisclosed fee, the Stockton-born player signing a four-year deal.

Jones was made skipper at Hibs in January and lifted the Scottish League Cup after his side defeated Kilmarnock in the final in March, the central defender notching the opening goal. It may be no coincidence that Town played Mowbray's West Brom shortly before Jim Magilton made his trip to Scotland to watch Jones in action.

Magilton has recently looked at trialists who play as strikers, central defenders and goalkeepers, which may be an indication of where the Town manager feels he needs to strengthen. Left midfield has proved a problem area at times this season, although Gavin Williams is nearing a return after his ankle ligament injury.

Meanwhile, more details are starting to emerge regarding Marcus Evans's proposed purchase of Town's debt. Evans reportedly will pay 20p in the pound for £32 million of the club's outstanding debt, £28 million of that the money owed on the Norwich Union bond which paid for the new stands and £4 million of the Barclays overdraft built up prior to administration in 2003.

TWTD has reported for some months that a write-down on the cash due to Norwich Union was the only likely solution to the bond debt.

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