BLUES chief Ron Martin has admitted he made a mistake not selling Bilel Mohsni to West Ham United in the summer.
The Hammers tabled an £100,00 offer for the Frenchman in July.
And Martin now regrets not accepting the bid.
“I hold my hands up and admit I got that one wrong,” said Martin.
“I turned down the offer of £100,000 and went back asking for £250, 000.
“I thought Bilel was worth that and thought a Premier League club would be able to pay a little bit more.
“But they didn't come back in and I think Bilel blames me for that now.
“It wasn't intentional though and I was just trying to get the best deal I could for the football club.”
After failing to agree a switch to West Ham, Mohsni eventually joined Ipswich Town on loan.
However, he has yet to start a match for the Tractor Boys and has not featured at all since the start of November.
As a result, his loan deal looks unlikely to be extended beyond January.
But Blues boss Paul Sturrock confirmed Mohsni would not be returning to Roots Hall.
“Bilel will not be coming back here if Ipswich don't keep him,” said Sturrock.
“He's a great lad and has real talent but he's a disruptive influence behind the scenes and he's also said in the Echo he doesn't want to play for the football club any more.
“Once someone says something like that I don't think there's any going back and it was a similar situation with Ryan Hall and why we allowed him to leave.”
But if Mohsni does not return to Blues and fails to agree a switch to a new club, he will not cost the club a penny.
“If Bilel goes back to France then he's in breach of contract and every two weeks we fine him two weeks wages,” said Sturrock.
“I don't know what will happen but he's told us he only wants to go to a club playing in the Championship or Premier League.”