Everton's proposed move for Folarin Balogun is off after the Monaco striker pulled out of the move.
The Toffees have been working to sign Balogun in the closing stages of the summer transfer window as part of a desperate effort to bolster David Moyes's forward options.
The move was initially thrown into doubt due to a complication in Balogun's medical on deadline day.
The Premier League club refused to give up on the deal and instead renegotiated the structure of the deal.
Balogun walks away from Everton transfer
Everton put in a deal sheet and appeared to be on course to secure the services of the USA international.
However, according to Ben Jacobs, the proposed transfer is off following a bombshell decision from the Monaco striker.
Balogun had a 'change of heart' and subsequently walked away from the move that had also impacted Chelsea's pursuit of Monaco midfielder Lamine Camara.
Needing a major sale, Monaco looked set to sanction Camara's exit when Balogun's move was originally in doubt, only to back out of the deal with Chelsea as Everton pressed ahead in their efforts to sign the former Arsenal forward.
In the end, Chelsea and Everton have both been left without their desired targets and cannot improve their squads via the transfer window until 2027.
Moyes faces major striker headache
For Moyes, Balogun's U-turn represents a major blow after Everton sold Beto to Italian side Fiorentina on deadline day.
Balogun was supposed to fill the void created by Beto's departure, but Moyes has now been left with Thierno Barry as his only senior striker.
As a result, Everton will likely have to look to the free agent market for a new striker who can at least cover Barry.
But such a scenario is less than ideal after having a whole summer to bring in the required reinforcements, a situation that