Town MD Ian Milne has confirmed that the cash received from the sale of left-back Tyrone Mings to AFC Bournemouth last week will be reinvested into Mick McCarthy’s first-team squad.

The 22-year-old was sold for an initially £8 million - the majority paid up front and the rest in instalments - with the overall fee potentially rising to £10 million once top-up clauses - likely to relate to appearances and future international recognition - are triggered. The deal also included a sell-on.

“We received a substantial amount of money for Tyrone and having spoken to [owner] Marcus [Evans] we both realise that it’s important we reinvest that money back into the team,” the Blues MD told the club site.

“It’s a shame to see Tyrone leave but it was a fantastic offer put to us by Bournemouth, especially with Ryan Fraser and Brett Pitman joining us as well, and it’s a great opportunity for Tyrone himself.

“Tyrone goes with our best wishes and I’m sure he will do well in the Premier League. Hopefully next season we can join him there.

“To do that we realise we need to give Mick as much backing and support as we can and that is why we will continue to invest in the first-team squad and the Mings sale will substantially help in building that investment.”

Meanwhile, the traditional first day of pre-season photo call and press conference with manager McCarthy will now take place on Tuesday morning, not this morning as initially planned.

While a number of players were in for testing this morning, the full squad won't be back to begin their 2015/16 preparations until tomorrow.

Arsenal youngster Ainsley Maitland-Niles, whose signing on a season-long loan is close to being formalised, will be amongst those at Playford Road, but Daryl Murphy, David McGoldrick, Christophe Berra and Kevin Bru have been given extra time off having been away on international duty.

Photo: Action Images

muccletonjoe added 15:28 - Jun 29 Still saying goalkeeper should be our main concern , hope we can find a good one
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ArnieM added 15:29 - Jun 29 Thanks for that jas0999, much appreciated. I think there's a lot more forward planning goes on behind the scenes under MM's tenureship than tgere ever was under RK and PJ. I havd no doubt that this close season has seen yet another very much planned reduction and exit of certain squad players in favour for an influx of 4-5 players that will be younger and far quicker. I also expect Town to play with more flair and width than over the ladt 2 seasons. I think we will make just one significant spend on a scoring creative midfielder.

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therein61 added 15:31 - Jun 29 Just what we needed to hear now let Mick get on with it and build a top 2 side
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TheSelkirk added 15:44 - Jun 29 When we have the squad we all hope for, can we put a few quid aside to employ a couple of extra bodies behid the bar on match day? By the time I have my pint it's time to go back up :( (That's when they haven't run out) Priorities and all that..........
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rickw added 15:47 - Jun 29 I'm not so bothered about a keeper I like Bialkowski and Gerken is decent backup, I know Bart had about a 6 week spell where he made several mistakes - but so did Mignolet and Liverpool spent close to £10m on him! I think our main priority has to be a proper right back, who can get up and down the flank the whole match, Chambers can still cover there and compete with Smith and Berra for Centre Back. Secondly I think a goalscoring midfielder would be great, I think Bishop and Bru are decent creatively just don't currently score anywhere near enough. Thirdly we have several wingers now, but most are young and inexperienced, so if someone of quality becomes available then we should still go for it

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truthhurts added 15:51 - Jun 29 The financial side if the Club is always a topic that splits fans more than most. Some will see that we now have £8m burning a hole in our pockets. Spend, spend, spend. These people ignore the outlay on wages and agent fees. Then there are the fans that are happy with running a tight ship. Loans and frees. We have, in the not so distant past, spent many millions on perceived flops. Whereas some of the frees in recent times have been superb. I personally think we need to be somewhere in the middle. We aren't a huge distance away from the Premiership. Last season proved that. I thinkspending a decent fee on a goal scoring midfielder would be, hopefully, the final piece of the jigsaw. Anyone got a certain Matty Holland's number... Joking aside, that's the sort of player we desperately need. Now go get him

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warktheline added 16:17 - Jun 29 Believed that would be the case, some need to get off ME back! Very positive time to be a Ipswich supporter.....for some of us anyway!
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Cookycrew added 16:40 - Jun 29 Personally I hope that when Mick says 'Freshen things up' that also means that we can now bring in a truly 'consistent' Top Class Goalkeeper please (with Bialowkovski as a decent 2nd Choice). We need to score more goals than last season, which Mck is now addressing (e.g. addition of Pitman). We also need to tighten up further at the back & concede less goals than last season - in my opinion a better quality goalkeeper would help this defensive objective/aim. I would be fair to Gerken and release him and enable him to get regular games elsewhere.

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Slambo added 17:11 - Jun 29 Great news, and good to see (most) fans acknowledging that spunking money on established names is NOT the way to go... I would argue that the only position we really need to fill is right back. Might I suggest that we answer our central midfielder question with David McGoldrick? Brilliant touch footballer with a good eye for a pass. Simple transition into a goal scoring midfielder, rather than an out-and-out striker. You know it makes sense...

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kingy4978 added 17:34 - Jun 29 I agree with a couple of other posts about a keeper being needed. I would like Sorensen who I believe us available on a free? Also with regards to a right back I don't think Mick will look to sign one with the lad hammond back to fitness. A central midfielder would be decent someone who can spark us going forward.
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Tractorboy1985 added 17:36 - Jun 29 Great news! Mick has had pittance compared to jewell and the a#€ehole that was Keane and has done wonders since joining the club! Not asking for a massive spend because we don't need a massive overhaul! Keeping Berra is the main priority! Best defender in the league in my opinion but 2-3 million invested into the squad that we already have would go a long way! A modern day Tommy Miller bursting from midfield who can score 10-15 goals a season has got to be on thee agenda! A hungry player and not a cast off looking for his last big payday! Can't wait for the season to get started and get back to PR and see u all and do believe we can go one better than last season and mick can succeed in putting this great club where we belong! Premier league here we come! COYB!!!

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RollsReuser added 17:44 - Jun 29 Go raid Brentford, similar wage structure. Harlee Dean & Jota please
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blue_movies added 17:47 - Jun 29 like a typical chartered accountant he just saying what he thinks fans want to hear. to be truthful its no change, its loans, frees and trialists
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NSL added 18:20 - Jun 29 No one seems to be talking about a new GK but a significant improvement in that department will save us losing a fair few points a season I reckon
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MedwayTractor added 18:46 - Jun 29 1) All those posters who want MM to splash out on anew keeper should go back & read my blog "Who's next between the sticks...". 2) I don't believe we will see anybody else but Luke Chambers at RB, unless one of him, Berra (most likely) or Smith leaves. 3) The aim should be for a squad of at least 23 players. This is made up of three keepers and two each for the outfield positions. At present we have (not in order of preference): Keepers: Bart and Gerken, with Crowe as back up Defenders: Chambers, Berra, Smith and Parr, with Clarke and Yorwerth Midfield: Tabb, Hyam, Skuse, Bishop Bru and Fraser Forwards: McGoldrick, Murphy, Sears and Pittman. To these might be added Stewart and Henshall, but they appear to be deemed wanting, as well as some untried youngsters such as Benyu, O' Donnell and (possibly) the Gooner on loan. So you can see that the squad remains on the thin side, especially on experience, but with the probability of new signings using the Mings money, and/or some of the released players (the Hunts, Anderson or Ambrose) coming back in. Plenty of time before the season starts, but don't expect new names to appear until much before the deal is done!

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runaround added 18:51 - Jun 29 Cleverly worded yet encouraging statement from Milne. Doesn't mention how the money will be reinvested into the squad. Like most other posters on here I believe it will be a combination of fees, loan fees & signing on fees for Bosmans. I also believe we may see new improved contracts for some of our current players to keep them happy! The problem with spending too much in fees is players who attract large(by championship standard) fees may want larger pay packets. MM's current success has been built on team spirit & most of us remember the effect signing players on much higher wages had on the team in 2001/2 I believe the way we're going about it is the right way & I really feel we will challenge at least top 6 if not top 2 this season. As for additions, we need a couple of full backs possibly an attacking midfielder & we are ready to go

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Ipswichbusiness added 19:23 - Jun 29 I suspect that this will go the same way as the Cresswell money; wages, agents' bungs, etc for honest journey men. I agree that with a small squad we need quantity, but some quality would be nice as well and that means spending on some transfer fees. A right-back would be good as well!
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Rocky added 19:41 - Jun 29 Why do our two MDs remind me of used car salesmen?
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Mr_Evans added 19:41 - Jun 29 I don't think we need a new GK at all - Bart is a good goalkeeper and next season he will settle into the side - we currently have a good core of players, and I'm happy for MM to go and pickup 2 or 3 freebies. I think a RB and a cover LB is certainly needed - if MM still wants to play Chambers at RB then we need another good CB to replace Smith. With the Mings money I'd like us to go out and maybe sign Jonny Williams - Palace would let him go for £500,000 as he does pick up a few injuries - but I think he's worth the risk, and certainly the calibre of player to push us up a few places in the league.

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topguy added 19:43 - Jun 29 im happy with whats come out of the club and wheeling and dealing in the lower leagues for hungry young players hasn't hurt some clubs like Brentford and bornemouth, let the likes of Derby, Wolves and Leeds still think they are the big boys by paying over the odds for players who may or may not improve them, I would much rather 10 x £100,000 signings like Freddie than 1 x £1 Million pound journey man like chris woods just think its better business sense.

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carsey added 19:47 - Jun 29 More than anything else I want to see a recognized right back arrive so Chambers can get back to where he belongs. I accept we lacked goals around midfield last season but most of the points we dropped in tight games were down to errors in defence. Unless someone moves on we have 4 excellent front players now so stopping the opposition is the main issue.
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Steve_D added 20:00 - Jun 29 Replace mints with cresswell and we heard it all before so all we will have is out of contract and players no one else wants as usual
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Keaneish added 20:03 - Jun 29 Do we need to? Id rather we took a small portion of it but dumped the rest on our debt.
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Steve_D added 20:05 - Jun 29 Don't you just love auto spelling it was meant to be mings not mints
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yorksblue added 20:20 - Jun 29 Without a decent GK, we'll carry on dropping points, giving away soft goals due to poor or nonexistent communication, against teams we should have buried. For me, that should be our next priority signing.
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