The Uruguayan had agreed to join Empoli for the upcoming Serie A campaign earlier this month but after failing to appear for the club's pre-season training camp, the club have decided to put an end to the loan move.
Empoli's sporting director Pino Vitale confirmed the club's decision to pull out of the deal for the South American starlet, blaming the player's agent Paco Casal for disrupting the deal.
"Honestly, I was confident that there would be a positive conclusion to this negotiation because when you have contact with very big teams like Juventus, usually their word is respected," Vitale told Empoli's official website.
"In this case, there have been extraneous things not associated with the Bianconeri and the affair had an unexpected end.
"We are looking all around, trying to better evaluate the quality of players that could wear our jersey.
"We have not suffered any anxiety because there is time before market will close.
"Anyway, to put the definitive word on the Olivera matter, I will say that for us dignity and respect are daily words and anyone who doesn't show respect for us, does not interest us."
