Ipswich Town are yet to receive any offers for prized-asset Flynn Downes this summer.

East Anglian Daily Times: Flynn Downes' wages won't count towards Ipswich Town's salary cap until next season. Photo: Steve WallerFlynn Downes' wages won't count towards Ipswich Town's salary cap until next season. Photo: Steve Waller (Image: � Copyright Stephen Waller)

The midfielder, arguably Ipswich’s best player during the 2019/20 season, has been the subject of interest from the Premier League over the course of the last year, with West Ham, Crystal Palace and Arsenal among those eyeing the 21-year-old.

The Blues received significant interest in Downes during the January transfer but the academy product remained at Portman Road, though much of that interest remains this summer. It is understood there have been no bids at this stage, though.

Palace were linked at the weekend, with a report stating the Blues’ asking price to be in the region of £4million, but sources close to the club have insisted owner Marcus Evans values the England Under 20 international significantly higher than that.

MORE: Ipswich Town transfer rumour: Downes linked to Palace as Blues ‘hold out for £4m’In January, manager Paul Lambert insisted he valued Downes’ fellow academy product, Luke Woolfenden, in the region of £10million. While it seems unlikely a club in Ipswich’s position would be able to achieve a fee of that size, it’s understood Evans’s valuation of Downes is in a similar ballpark.

East Anglian Daily Times: Flynn Downes made 32 appearances for Ipswich last season, scoring twice. Picture Steve Waller www.stephenwaller.comFlynn Downes made 32 appearances for Ipswich last season, scoring twice. Picture Steve Waller www.stephenwaller.com (Image: Stephen Waller)

Lambert remains intent on keeping Downes as Ipswich target promotion again next season, though the Scot is aware a significant offer may be too big to turn down as the club continues to deal with the impact of the coronavirus pandemic.

“That can happen at the best of times,” Lambert said earlier this summer. “Clubs can’t stop it. The money would have to be right but we also have to remember where the club is at and how things have impacted it.

“We have so much to discuss and work out what’s best for the football club but there has to be some realism there.

MORE: It’s hard to imagine ‘Mr West Ham’ wearing any other team’s shirt... except he already has“As I’ve said before if someone comes in with a hell of a lot of money are we in a position to turn it down? No, we’re not.

“In my opinion Flynn’s the best midfielder in the league.”

The Blues extended Woolfenden’s contract until 2024 earlier this summer, with Downes’ deal expiring in 2022. Speaking recently, general manager of football operations Lee O’Neill admitted the club are in no rush to sign Downes to a longer contract.