NEC Nijmegen midfielder John Goossens has rejected a move to Swansea City and will remain with the Dutch club for the remainder of the season.
Swansea manager Brendan Rodgers was hoping to sign Goossens after both clubs had agreed a fee for the 23-year-old.
A statement released on Nijmegen's club website said: "The agent of John Goossens has today told NEC that John is not responding to the offer of Swansea City.
"NEC had already reached agreement with this club on a transfer but the player has chosen to see out the season at NEC Nijmegen."
Goossens' contract expires in the summer and Swansea may have to compete with Feyenoord for the midfielder's signature.