Roy Keane has cast doubt on the prospects of Ipswich Town striker Jon Stead and Cardiff City forward Ross McCormack swapping clubs.
Ipswich had held talks with McCormack over a move to Portman Road, but the deal hinged on Stead agreeing to head in the opposite direction.
But, with Stead attracting interest from other clubs and McCormack now reportedly agreeing personal terms with Hull City, an exchange is looking unlikely.
Town boss Keane said: "There's been no move on Ross McCormack, because there is one or two other clubs in for Steady.
"That was always going to be the most complicated one, when you're doing a swap deal.
"Steady has every entitlement to speak to other clubs. He's got to pick the right club and that might just upset the deal anyway."
Scotland international McCormack's proposed transfer to Hull is also part of a swap deal, with Daniel Cousin reported to be considering a move to Cardiff.