David Unsworth's proposed move to Bolton has broken down.
Former West Ham and Aston Villa defender Unsworth looked set to join the Trotters after his current contract with Everton expired this week.
But the 30-year-old, who rejected a two-year deal to stay at Everton, has failed to agree a suitable financial package with the Reebok Stadium outfit.
A spokesman for Bolton confirmed: "We have failed to agree personal terms with the player."
Unsworth revealed his frustration at the Bolton board's decision not to ratify the transfer.
"I got a phone call from Bolton to tell me they
were pulling out of the deal as the board of directors weren't prepared to sanction it," the defender told the Everton website.
"Myself, the manager at Bolton (Sam Allardyce) and everyone connected with the transfer are all obviously frustrated.
"These things can happen from time to time. Now I just have to focus on my future."