Basel's 19-year-old striker Breel Embolo will not move to Manchester United this summer, according to reports.
The Swiss forward, who is currently representing his country at Euro 2016, has agreed a £15m ($22m) move to Bundesliga side Schalke, Sport Bild has claimed.
Both United and Red Bull Leipzig had bids for Embolo rejected by Basel, according to the paper.
A deal between the Swiss club and Schalke has reportedly been agreed in principle and could be announced as early as next week.
Reports earlier in the month suggested that new United boss Jose Mourinho was intent on signing a striker and had identified Embolo as a player he would like to bring to Old Trafford.
Italian journalist Gianluca Di Marzio said the signing of the player had been timed to coincide with the appointment of new Schalke coach Markus Weinzierl.
He claimed that Embolo chose to move to Schalke over United in search of more first-team opportunities.
The 19-year-old made 27 league appearances for Basel last season, scoring 10 goals. He has also been linked with Juventus, Barcelona and Bayern Munich.
Meanwhile, United's move for Sweden striker Zlatan Ibrahimovic, 34, is reportedly still on after he retired from international football following the country's exit from Euro 2016.
The 1-0 defeat to Belgium on 22 June ensured Sweden finished bottom of Group E, with just one point from their three matches.
"It feels heavy. It feels disappointing but at the same time I enjoyed it. We had the possibility of playing in the European Championships, I represented Sweden at this tournament so at the same time I am proud," Ibrahimovic was quoted as saying by the Guardian.
"This was my last game and I have many fantastic memories of the national team. It is a nice story as where I came from, what people called the little ghetto, I made the country my country. Sweden."
Ibrahimovic scored 62 goals in 116 appearances for Sweden.