Keane not only helped Sunderland into the Premier League, but retained their top-flight status before leaving earlier this season.
Some have questioned the former Republic of Ireland international's ambition in joining the Portman Road outfit, but Sbragia believes it could be a smart move for the 37-year-old.
"The good thing is there's the possibility something's going to happen there," Sbragia told Sky Sports News.
"He's a good manager. It's nice to see him back. I obviously wish him all the best at Ipswich now.
"Roy wants to get into football as quickly as possible. He needs football as much as football needs him.
"He did really well at Sunderland Football Club and I'm sure he'll do well at Ipswich Football Club as well.
"He'll be good for them."