Peterborough United have failed to agree terms with winger Nathaniel Mendez-Laing, despite having a bid accepted by Wolverhampton Wanderers.
The 19-year-old spent the whole of last season on loan at London Road, scoring five times.
Posh director of football Barry Fry told the club website: "Unfortunately talks broke down with the player and his representatives late on Friday.
"Unfortunately terms couldn't be agreed between both parties."
Writing on social networking site Twitter, Posh owner Darragh MacAnthony said: "Terms agreed with lad's agent for better contract than his current one.
"Then I'm told by his agent he wants more. So we move on."
Mendez-Laing played and scored as a young Wolves XI beat Airbus UK 3-0 on Monday night.
Commenting on Twitter, he said: "Don't think I'm too good [for Peterborough] just wasn't right for me."
Posh have made five summer signings with Craig Alcock, Nicky Ajose and Paul Jones signing permanently and Ryan Tunnicliffe and Scott Wootton coming in on loan.