IPSWICH Town manager Jim Magilton will be wasting no time in bringing in a couple of new faces following news of the imminent takeover of the club.The Blues boss, who is in on-going talks with chairman David Sheepshanks over extending his current contract, will have his player budget dramatically improved following the £44million investment of wealthy businessman Marcus Evans.

By Elvin King

IPSWICH Town manager Jim Magilton will be wasting no time in bringing in a couple of new faces following news of the imminent takeover of the club.

The Blues boss, who is in on-going talks with chairman David Sheepshanks over extending his current contract, will have his player budget dramatically improved following the £44million investment of wealthy businessman Marcus Evans.

While £32million is put aside to pay-off the club's debt, much of the rest will go to the day to day running of the Blues.

Magilton will now be in a position to attract experienced players from within the Premier League and take them on loan before the transfer window opens in January.

He will be in a position to take over their wages if he feels the right man becomes available.

Previously Magilton has had to deal with younger inexperienced players from the top flight, but now he can make temporary signings of better quality players who might be currently out of favour at their parent clubs.

This could well give Ipswich a boost over the next two months before Magilton ventures into the permanent transfer market.

Magilton will not pay over the odds and will only bring in players he think will make a difference - but he is already upping his scouting plans.

Town chairman David Sheepshanks has confirmed that talks are on-going with Magilton over the extension of the original two-year contract that comes to an end in the summer of next year.

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

First team coach Bryan Klug is also in line to have his contract extended. The former Blues Academy director has formed a successful partnership with Magilton, and the manager will want to continue the link.

Magilton described yesterday's events as revealed in the Evening Star as the best financial news the club had possibly ever received and added: “We should be able to shop for players in a different store from now on.

“But we will continue to take great care in who we bring in with players who will add to the changing room and also add to the team spirit we have established.”