Magilton this morning, along with Fabian Wilnis and Richard Naylor signed a new one year deal with the club, and although he previously indicated he would be willing to give up the role of Skipper to stay at the club, Town boss Joe Royle says that this will not be required.
Speaking to the Official Club Website the former Manchester City boss said: "Jim will skipper the team because he is the best player qualified to do so. He is an inspirational leader and a great motivator and that is the sort of player we need as our captain.
"It also shows the quality of Jim that even when he is having an off-day, he never hides on the pitch. He always shows that same 100 per cent commitment and is forever looking to receive the ball. That's a sign of a good player - and a captain."
Magilton took over the role of Captain last season after the departure of Matt Holland to Charlton Athletic for £750,000.