Ipswich chairman David Sheepshanks believes Town will be "serious contenders" for automatic promotion to the Premier League next season.Bankrolled by entrepreneur Marcus Evans, Jim Magilton should have a serious war chest to spend over the summer and Sheepshanks is targeting a return to the top flight.

He told the Evening Star: "We are back on the scene again following a massive improvement. The years when we were a bottom-half side are over and we can use this season's eighth place as a platform.

"We will be going for automatic promotion in 2008/09 and we can realistically say that we will be serious contenders.

"Stoke City, Crystal Palace, Bristol City, Wolverhampton and ourselves are the clubs in the Championship who are without parachute payments but have substantial financial backing.

"All those clubs finished high in the table, and everybody at Portman Road is confident this trend will continue next season."

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