Speculation over the last week has linked both full back David Wright and striker Jon Stead with a possible move away from Portman Road, and it is understood that one of the duo was planned to be part of the deal to bring Wood to Portman Road.
However whilst Sheffield Wednesday boss Laws has not named the player in question, he has confirmed that the club are not interested in a swap deal, and would only be prepared to part with 24 year old who has appeared almost 190 times for the club if he was given a cash offer too good to refuse.
"I'm not going to deny Ipswich made contact. But we were not interested in the deal they were possibly talking about." confirmed Laws to the press this morning.
"I spoke to Roy Keane and it was more to do with players swapping. What we would be looking for is cash but we don't have to sell."
With the full transfer window now closed, Keane will have to wait until the emergency loan window opens next week to take his interest any further if desired although the Blues boss could take players on loan until 1st January and pre-agree to make the move permenant as of that date.
Click here for a player profile of Richard Wood