Liam Delap's release clause will fall as low as £30million if Ipswich are relegated from the Premier League, Mail Sport has been told.
Chelsea and Manchester United are two of the clubs in the chase for the 22-year-old striker who has 12 goals in the Premier League season.
England Under-21 international Delap joined Ipswich from Manchester City last summer in a deal worth up to £20m.
Kieran McKenna's side are 12 points off Wolves, who are currently sitting in the last-remaining safe position in the Premier League.