However Joe Royle told the East Anglian Daily Times that the club would be delighted have him stick around: "I have been delighted with Tony's contribution. I would love him to stay and we have offered him something.
"Tony is a manager in waiting and we know he will make his own way eventually but until then he can make a big contribution to Ipswich."
Click here for a rundown of Tony Mowbray's peformances in the season Town were promoted into the Premier League.