Everton manager David Moyes has failed in his attempt to lure Real Madrid winger Denis Cheryshev away from the Spanish club after Jose Mourinho rejected the offer.
The 21-year-old is a regular in the Real Madrid B side and has recently forced his way into the first team plans of former Chelsea boss Mourinho, who has begun to hand chances to some of the youth team graduates.
Cheryshev left Russia as a teenager to join the academy at Madrid and has finally managed to make an impression on Mourinho and current international boss Fabio Capello, who handed him his debut in the 2-2 draw with the United States.
The winger is yet to make an appearance in the first team but it seems Mourinho has high hopes as he has decided to keep him at the B team rather than let him join Everton.
Spanish publication Marca has reported that Everton approached officials from the reigning La Liga champions and made an offer of €6million earlier this month.
Everton had hoped that they would be able to sign Cheryshev in the January transfer window, but they have been told in no uncertain terms that he is not for sale.
Cheryshev is viewed as one of the best talents in the Madrid B Team, and despite Mourinho questioning the quality of players his academy is producing, it seems as though he is determined to keep the talented Russian.
Everton had previously managed to complete a loan deal for Royston Drenthe while the Dutch midfielder was at Real Madrid and it seems that the Merseysiders had hoped to once again do business with the Spanish giants.
Moyes had led his Everton side to an impressive start to the season as they defeated Manchester United in the opening game, but they have since faltered and have won just one of their last six Premier League games.
With a relatively small squad it seems Moyes was keen to add some depth in the New Year as he looks to secure a top six finish.