Tottenham Hotspur have given up their pursuit of Pau Lopez after failing to reach an agreement with Espanyol to secure the services of the Spanish goalkeeper on a permanent basis.
Sport first broke the news and sources close to the negotiations have confirmed to IBTimes UK that only a major U-turn could reopen the saga – despite there being almost three months remaining in which to conduct summer transfer business.
The 22-year-old keeper joined Tottenham during last summer's transfer window after Spurs agreed to pay around £500,000 ($646,163) for a season-long loan that included an option to make the move permanent for £6.1m at the end of the campaign.
However, IBTimes UK reported last week that the clubs remained far apart in negotiations, with Spurs trying to secure a cut-price deal having seen a £2m offer rejected. Espanyol were demanding at least double that figure to cash in.
Sport is now reporting a major development in the saga, claiming that Totttenham have finally decided to withdraw from negotiations after failing to convince Espanyol to reduce their demands.
The Spanish publication claims that the La Liga side have already informed Lopez that they want him back in Barcelona for pre-season.
Espanyol were expected to sign free agent Gorka Iraizoz to serve as back-up to Diego Lopez ahead of 2017-18 season. However, Sport believes they have cooled their interest in the former Athletic Club Bilbao keeper and are planning on having Pau cover that role.
Sources close to the negotiations have confirmed to IBTimes UK that Tottenham have ended their interest in Pau as they are reluctant to pay more than £2m for a keeper that will be a free agent at the end of next season. In that regard, Sport suggest that Espanyol could offer Pau a new deal in order to avoid losing him for free in the summer of 2018.
Yet, if the Catalans fail to convince the Spaniard to sign a new deal, they may need to reopen negotiations with Tottenham during the coming transfer window.