AC Milan's hopes of signing Villarreal defender Mateo Musacchio have fallen through, with his agent saying the deal is off.
Earlier this summer, the Rossoneri were reported to have made an initial bid to buy the 25-year-old defender outright.
But with uncertainty surrounding a proposed takeover of the club, they revised that to a season-long loan with an option for a permanent move next summer.
This has been rejected, and Musacchio's agent Marcelo Lombilla told tuttomercato: "Negotiations over the transfer of Musacchio to Milan have broken down entirely."
Gianluca Lapadula is Milan's only new recruit this summer, while Philippe Mexes, Mario Balotelli, Kevin-Prince Boateng and Jeremy Menez have all left.
However, Suso, Alessandro Matri and Gabriel Paletta have returned from loan spells.