It's understood that Counago, who has on a number of occasions in the past stressed his love for the club and the area, did not want to leave and uproot his young son whilst he is enjoyng life at the club.
Speaking to the Official Swansea website, Chairman Huw Jenkins said: "We spoke with the agent, but Pablo has turned down our offer. It seems that the player is happy to stay at Ipswich.
"We are obviously disappointed, but Paulo (Sousa) has always said that he has a number of options and targets. Pablo's decision to turn down our offer means we will now start to pursue those options.''
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