Speaking to the Official Club Website Town boss Joe Royle said: "Pablo has turned down the chance to return home and sign for Cordoba. But the two of us sat down and had a very amicable chat this morning and Pablo accepts that it will better for his career if he finds another club.
"He is available on a free transfer and we will do everything we can to try and help find him a new home. We will circulate his name to the other English League clubs during the transfer window and also use our contacts in Spain and see if anything develops."
Meanwhile Pablo himself admitted he'd be sad leaving Portman Road but it's in his best interests: "I love this Club and have enjoyed a great relationship with the fans since I first came here and while I will be disappointed to leave Portman Road, it is now the right thing to do for my career."