That's better, but I'd go even bigger. There's a 40 breeder on my 75 gallon.
Think of this example using my 75g tank: Most people run a rough average of 5x display volume turnover through their sump. So in my case my sump volume would be turned over 10x every hour. Not bad. Some people do a smaller sump than I, and run a 20 long, this means the sump volume would turn over 18x per hour.
If you ran a 40 breeder on your 240g with a 5x display turnover you would have 30x your sump volume turned over every hour. That's pretty quick. You may end up with some microbubble issues. If you can fit it, I would use a 75g or a big rubbermaid tub for your sump.