However the move has still not gone ahead for the former Barcelona player and it has been reported that Town boss Roy Keane is attempting to secure the player on loan for another spell, believed to be until the end of the season.
Speaking of the chances of Gio returning to Portman Road, Keane said: "I spoke to Harry Redknapp about Gio when he was here last year.
"They know they get looked after and they know they are coming to a real club and a manager that will make sure that they will train properly and be on time. That hopefully helps in our dealing with any Premier League teams."