Downes, who is only 25, spent last season on loan at Southampton from West Ham and the Saints are keen to take him back to St Mary’s on a permanent basis.
According to The Sun, the two clubs are yet to come to a formal agreement regarding a fee with the Hammers wanting a stunning £15 million before add-ons.
Ipswich Town are keen on bringing Dowes back to the Blues after leaving for Swansea in the summer of 2021 after being one of the lucky few to train with the u23’s during pre-season.
Downes was booed by fans on his first competitive return with the Saints last season however he harbours no bitterness towards the club and would take a chance at a Portman Road comeback.
This could be a huge move for Ipswich as they return to the Premier League and look to strengthen their side ahead of the new season.