Sheepshanks hopes that Ipswich can bring in one or two players before the end of May, but thinks that the squad as a whole does not need a major overhaul.
This is likely to rule out a mass exodus that has been heavily discussed, meaning fringe players such as Roberts, Bowditch, Williams and Dan Harding are likely to stay for another year at Portman Road.
Sheepshanks told BBC Radio Suffolk: ‘There is an awful lot that’s right out there but there are just one or two areas that need strengthening.
‘We spent a bit of money in January but there are still very significant funds in our bank account.
‘We are able to go and acquire the players that we and Jim [Magilton] believe he needs to get promotion.’
‘I would like to think we will get one or two in by the end of May but I have to tell you that there is nothing imminent.
‘We are absolutely committed to bringing the right players into this club.
‘Marcus [Evans] wants to own a Premiership club, I want to be chairman of a Premiership club again and Jim [Magilton] wants to manage a Premiership club.’
Elsewhere, Billy Clarke has been called up to the Irish-U21 squad for a tournament in Malaysia later this month. Ireland will face Iran, Malaysia and Nigeria.
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