Speaking to the Official Club Website, Clegg confirmed: "We have given serious consideration to a further permanent memorial and tribute to Sir Bobby. There are a range of ideas that we are looking at and have been looking at over the past few months.
"Naming a stand after Sir Bobby is one of the options that we have discussed and we spoke to Sir Bobby about it but he didn't feel it was appropriate until a period after he had passed away. We obviously want to respect that and will respect that.
"We will listen to what the supporters have to say and all ideas for a fitting tribute will be given all due consideration but at the end of the day it needs to be a football recognition, something identifiable with the Club and Portman Road in particular."
Town already have a corporate hospitality suite named after the former England and Newcastle boss, as well as a statue overlooking the ground.