Rangers forward Alan Gow has turned down the chance to join Burnley as part of the deal which has seen Kyle Lafferty go in the other direction.
Gow had talks at Turf Moor this week but his agent Phil McTaggart told BBC Lancashire he wants to stay at Ibrox.
"Alan will report back for pre-season with Glasgow Rangers," said McTaggart. "It is just not right for the player."
The 25-year-old has had limited chances in the first team since arriving at Ibrox from Falkirk in July 2007.
Burnley had originally given the player until Thursday to make his final decision.
But a club statement revealed that they have ended their interest in the Scotland B international.
Clarets boss Owen Coyle also paid tribute to Lafferty after his three-year stay at Burnley came to an end.
"We will now concentrate on our other targets," said Coyle.
"This remains a fantastic deal for Burnley Football Club and we wish Kyle all the best in his future career."
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