Reports have suggested it could have been a defender but these are not yet confirmed.
Town were also linked to left sided players Adam Johnson from Middlesbrough and Kyle Reid of West Ham United.
As if often the case with Town, it is another transfer target of Jim which has failed to materialise.
Derek Bowden told the official Ipswich site: "We had been tracking a player for some time and it looked like there would be some movement at his club."
He added: "It's about bringing in the right players for the right money, both in terms of fees and wages, so we're quite careful about about how we spend the money."
Jim now has a second chance of adding to his squad by using the emergency loan window, this opens next Monday.
It is believed that either Adam Johnson or Kyle Reid could be drafted in and fill the gap left by the vacated Gary Roberts, who was once such a hit with the Town fans.
Jim has used a variety of players on the left wing, although none have claimed this position as their own. Alan Quinn and Liam Trotter have both been used here.
It is also quite possible that Jim may bring another defender to the club despite adding the likes of captain Gareth McAuley, Pim Balkenstein, Ben Thatcher and finally Moritz Volz (loan) to his defensive options.
Names mentioned in the past include Cardiff's Rodger Johnson, where a deal now seems unlikely.
In total Jim has brought in six players on a permanent basis and two on loan during the Summer.