Deportivo La Coruna have rejected Newcastle United's offer for Fabricio Coloccini, according to the defender's agent.
Coloccini has emerged as a prime target for Magpies boss Kevin Keegan, who is eager to increase competition in his defence.
The Argentine's agent Marcelo Lombilla claimed earlier on Monday that Newcastle had made an offer for the 26-year-old.
Spanish side Depor also revealed that Coloccini would not join the club on a pre-season trip to Venezuela as his future would be decided 'in the upcoming days'.
However, Lombilla says Depor have turned down an offer in the region of 11million euros (£8.7million) for Coloccini and is unhappy with the club's president Augusto Cesar Lendoiro.
Lombilla told La Voz de Galicia: "We must finish this part of the negotiations.
"I do not understand the attitude of Deportivo. Coloccini is disappointed."
Reports in Spain suggest Depor want 12million euros (£9.5million) for Coloccini, while there are rumours that he could look to invoke a Fifa ruling which would allow him to buy out his contract.