MICK McCarthy has admitted he is considering re-entering the loan market before it closes next week.

And while Richie Wellens remains a top target after his successful one-month loan spell, McCarthy has heaped praise on young Arsenal midfielder Emmanuel Frimpong.

The 20-year this week declared he wanted to go out on loan as he bides his time at the Emirates Stadium and we understand McCarthy has made initial contact with the Premier League side.

But Frimpong, who also attracted the interest of Wolves, might have to wait for McCarthy to get a firm decision over Wellens, who ironically could line up against Town for parent club Leicester City tomorrow.

That gives McCarthy an ideal chance to speak to Foxes boss Nigel Pearson before the loan window closes at the end of next week.

McCarthy said: “I think Richie wants to see if he can get into the Leicester side first – and I don’t blame him. It is a long trek to Ipswich when you have a wife and young kids.

“We would all want to play for the team where we are living rather than being out on loan, and he is no different. I will know more when I speak to Nigel tomorrow.”

Wellens admitted to this newspaper that he would jump at the chance of returning to Portman Road if he found first-team chances at Leicester difficult to come by.

But Pearson is likely to try and keep his experienced midfielder – meaning McCarthy might have to look at other options.

Frimpong will be on that list after the midfielder enjoyed a short-lived loan deal with him at Wolves and the Town boss, in turn, praised him during this morning’s press conference.

While not directly commenting on the speculation, McCarthy said: “I admire Manny – he’s a really good player. I had him at Wolves, he was excellent, and then he did his cruciate at QPR. He is a player that I really like.

“I’m still looking. I don’t think we’ve got the strongest squad – hence taking Kelly Youga who has been out for a long time. We’ve lost Richie, for now. Whether that happens again or not I don’t know. If it doesn’t then I’ll be looking for someone else.”

McCarthy also admitted Town, who currently have seven loanees in their squad, might have one or two players going out on loan in the next week with Nathan Ellington closing in on a move to League One strugglers Scunthorpe United.