Town mnager Joe Royle today sensationally left his job.
Royle, who had one year left on his current contract, had been at the club since taking over from George Burley in 2002.
Sheepshanks said ‘Joe and I have met today and agreed that this is the right moment to go our separate ways’
‘The parting is entirely amicable. I would like to place on record our warm appreciation and thanks for the tremendous job that Joe has done at Ipswich during his tenure, managing the club initially through turbulent times and building a side that reached the play-offs in two out of the last three seasons.’
Royle added ‘I would like to thank everyone involved at Ipswich Town – the fantastic staff and the players for their support and for giving their best at all times.
‘As the chairman said, we part extremely amicably and I wish the club, its staff and the supporters nothing but the very best for the future.’
Town, as mentioned previous occasions, will look to go down the route of a young up and coming manager.
Former Town defenders Tony Mowbray and Terry Butcher will certainly be linked to the job, as they both were in 2002.
Other links may be Mike Newell and Dave Penney, but the early favourite looks to be Phil Parkinson of Colchester.
Town will be looking to make an appointment as soon as possible.