Valencia's move for Benfica winger Simao Sabrosa has fallen through.
The Spanish side were hoping to announce the signing of Simao after agreeing a deal with Benfica earlier this week.
The Portuguese winger has been linked with a move away from Benfica for some time and Valencia thought they had finally got their man.
Simao travelled to Spain for talks over the weekend, but an agreement over personal terms could not be reached.
Benfica president Luis Filipe Vieira confirmed the deal had broken down because personal terms could not be agreed.
"We have always said that we were available to find a solution that allowed Simao and his family to find a better life. This is what we did," said Vieira.
"Simao has concrete ideas about his worth and what he wants.
"For the offer they gave him, it's better to stay at Benfica.
"When family is involved, if you have to move to a place where they are going to pay you the same, it's not worth it."
The news could alert other clubs to Simao's availability, with Liverpool and Chelsea long-term admirers of the winger.