Manager Mick McCarthy believes that striker Daryl Murphy's signing a new contract gives Ipswich Town a huge pre-season boost.
Murphy scored 27 goals in 48 games last season, finishing as the league's top-scorer.
McCarthy told BBC Radio Suffolk: "It's put to bed any speculation.
"There's been lots of interest but we always wanted to keep him and the feeling was mutual. We're absolutely thrilled with that."
Tractor Boys captain Luke Chambers has also voiced his delight.
Chambers said: "Hallelujah! I'm good friends with Murph and have been on his case all summer, telling him 'you don't want to leave, you don't want to leave'.
"I don't think anyone would have forgiven the club for selling him and then seeing him go off and score 27 goals for someone else."
Highly-rated left-back Tyrone Mings has been sold to Bournemouth for £8m, but McCarthy has brought in striker Brett Pitman, wingers Ryan Fraser and Ainsley Maitland-Niles and young centre-back Josh Yorwerth this summer.
Chambers says he believes Ipswich, who were beaten by East Anglian rivals Norwich City in the play-off semi-finals last season, are ready to mount an even stronger challenge for promotion this season.
He continued: "No disrespect to the lads that have left and the lads that have been here before, because we've had a couple of fantastic seasons, but I think the gaffer has slowly improved the squad every year and hopefully this season will be the season for us.
"We look like we've got a bit more pace in the team. We've got a few young players trying to stamp their mark and have still got three of the best players in the league [Murphy, McGoldrick and Christophe Berra] to come back into the squad."
Meanwhile, McCarthy said Murphy, who is back in training after recovering from injury, is unlikely to play in Ipswich's pre-season friendly against Cambridge United on Tuesday.