Athletic Bilbao target Asier Illarramendi is set to reject the opportunity to move to San Mames before the end of the transfer window.
According to AS, the Basques have tabled a €25m offer for the Real Madrid midfielder but the player has blocked the deal following talks between his representatives and both clubs.
Although Madrid President Florentino Perez is understood to favour the agreement, it is thought boss Carlo Ancelotti is in no rush to let the 24-year-old depart San Mames, given Los Blancos have a demanding fixture list until the end of 2014-15 campaign.
Illarramendi, who joined Madrid in July 2013 for a reported €32m, is also believed to be happy to remain at the Santiago Bernabeu, at least for now, and would prefer to weigh up his options come the summer.
The player’s former club Real Sociedad are keen to take him back to Anoeta, but only on loan until the end of the season.