Ipswich will allow Ivan Campo out on loan if "the right club" makes a bid before the deadline for temporary deals expires on 27 November.
Town manager Jim Magilton told the official club website: "If going out on loan gets him games then we would not stand in his way.
"He is still very much part of the squad here though."
The ex-Spain defender or midfielder, 34, has made seven appearances since arriving in August, scoring once.
The former Real Madrid man signed a two-year contract with Ipswich after his release from Bolton.
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