Paris Saint-Germain were hoping to complete a move for France striker Randal Kolo Muani from Eintracht Frankfurt on Friday in what would be the biggest deal to go through on transfer deadline day in Europe.
The 24-year-old forward, who hails from the Paris suburbs, has been a target for Paris Saint-Germain all summer and is keen to join the French champions.
He missed training with Frankfurt this week, with the German side confirming "his desire to be transferred to another club before the transfer window ends on Friday evening".
Kolo Muani, who signed for the Bundesliga club from Nantes only a year ago, played no part in Eintracht's 2-0 home win over Bulgarian side Levski Sofia on Thursday that saw them seal a place in the Europa Conference League group stage.
However, up until Friday morning Frankfurt had rejected PSG's proposals for a player who is under contract at his present club until 2027.
It is understood that the Ligue 1 side have attempted to offer their out-of-favour forward Hugo Ekitike to Eintracht as part of any deal, as they look to team Kolo Muani up with fellow French internationals Kylian Mbappe and Ousmane Dembele in their attack.
Any chances of Mbappe leaving PSG in this transfer window faded after he returned to Luis Enrique's team in August, ending a contract dispute that had dominated headlines all summer in France.
Mbappe's contract expires at the end of this season and PSG had previously said the 24-year-old must agree to be sold in the window unless he signed a new deal.
"Kylian is a PSG player. We are having really good discussions with him," club president Nasser al-Khelaifi told broadcaster 'RMC' on Thursday in Monaco after attending the draw for the Champions League group stage.
"He is a magnificent player, as a person and as a professional. We are going to work on it and try to do something," Khelaifi added, before saying he did not want to talk about Mbappe possibly signing a contract extension.
PSG have spent in the region of 250 million euros ($270m) on new signings in this window, including 60 million euros on Uruguay midfielder Manuel Ugarte from Sporting of Portugal.