Swansea City's hopes of signing Barcelona B striker Jonathan Soriano have been dashed over the player's financial demands.
Swans chairman Huw Jenkins met Soriano's representatives in Spain but was unable to agree a deal.
He said: "We were prepared to offer him an opportunity to join our squad in our first season in the Premier League.
"But we were not happy with the terms of the deal to suit Swansea City Football Club."
Soriano, 25, was the top-scorer in Spain's second tier last term with 26 goals, attracting interest from Wigan.
He joined Barcelona's reserve side in 2009 after spending seven years on Espanyol's books, during which time he scored against Swansea in a 4-0 friendly win in 2008.
The Spain Under-21 international scored 32 goals from 37 appearances in all competitions last season, prompting Italian side Udinese and French outfit Marseille to also show an interest.
"We continue to look at all of our options," added Jenkins.
Having already broken the club's record transfer fee for £3.5m striker Danny Graham, the Swans are ready to spend again as they aim to build a squad capable of competing in their first season in the Premier League.
Highly-rated Tottenham Hotspur defender Steven Caulker has also moved to south Wales on a season-long loan, while full-back Angel Rangel rejected advances from other top tier clubs to sign a new contract.
A goalkeeper remains a top priority following the loss of Dorus de Vries to Wolverhampton Wanderers, and Darren Pratley's decision to leave for Bolton Wanderers has created a space to fill in midfield.
Defender Ashley Williams, himself a reported target for Premier League rivals, acknowledges the squad needs new faces in order to cope with the demands of a unrelenting season.
"We need a bit more, just in terms of a bit more depth in the squad," said Wales international Williams.
"It's a long season in the Premiership. Sometimes you see teams, like Blackpool, who fade in the second half [of the season], so I don't think we want to do that.
"I'm sure the board and the gaffer have got their targets."