It is understood that the Charlton boss may be planning to make an offer for young Irish duo Shane Supple and Owen Garvan as well as Canadian international defender Jason De Vos.
The Town Chairman said: "I hope Mr Curbishley was watching Hull City players because I have no intention of entering into dialogue with him or anyone else about any of our young players."
Ipswich's financial situation has improved and earlier in the season Sheepshanks made the argument that if season ticket sales reached similar levels as last season, Town would not have to sell any players.
All of Town's future prospects have signed longer contracts with the exception of Dean Mcdonald.