Graham was all geared up to exit Wolves to move to Wigan Athletic, but that move fell through at the last minute.
Ipswich have now taken their chance, and want to sign the Wolves trickster on loan for the season.
Graham has shown flashes of quality at Molineux, but has rarely shown the consistency to make the grade with Nuno’s side.
The youngster’s chances have been harmed by injury, but Paul Hurst is prepared to take a change on the wide-man on loan.
Graham could have key a role to play at Ipswich, if he does make the move as expected.
The Tractor Boys have put together a solid squad, but Graham could provide them with a big increase in creativity.