The move prompted questions from a number of Town fans relating to if the sale was a purely football decision or a financial one, with the club today confirming that it was the former.
Speaking to the EADT, Chief Exec Simon Clegg said: "It has to be a football driven decision. It is important that Roy is given the support that he needs to bring in the players he wants to.
"Jordan has made a massive contribution to this club and that needs to be recognised but also the manager ultimately has the responsibility to deliver on the pitch and he has to decide who is part of his long-terms plans.
"We need to look at offers when they come in and when we get realistic offers even for good players then on occasions we are going to have to let those players go.
"I have made it clear that I intend to run this club on very tight financial reins, although this (selling Rhodes) was a football decision. Roy and I work very closely on all of these matters."
Meanwhile Keane himself added: "The offer that came in was acceptable. I'm under no illusion that, unfortunately, I have to let one or two players go to bring in one or two of my own players.
"As much as I think Jordan has a good chance (of doing well in the game) that will be reflected in the fee and what will come in for him over the next few years.
"I have to make tough decisions and as I said when I came to Ipswich I have not come here to be popular I have come to get the team promoted. Sometimes you have to make sacrifices with young players."