"Pablo's decision to turn down our offer means we will now start to pursue those options.''
Counago scored 11 goals for Ipswich last season and would have filled the gap left by Jason Scotland's £2m departure to Wigan.
Counago has spent two spells at Portman Road, playing for the Tractor Boys between 2001-5 after joining from Celta Vigo, then returning in 2007 after a spell at Malaga.
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