Doncaster manager Dean Saunders says striker Billy Sharp has turned down the chance to join Championship rivals Leicester City.
The two clubs agreed a fee last week and the Foxes began negotiations with the 25-year-old.
Saunders told the Doncaster website: "Billy has indicated to me that he won't be going to Leicester.
"As far as I know he will be staying with us until the end of the season, which is a great boost for everybody."
Sharp has scored 10 goals this season and has been offered a new deal by Doncaster, the most lucrative in the club's history.
"He gets goals which are invaluable for us," added Saunders.
"If he can win us six or seven goals between now and the end of the season he will be worth £3.5m and will have Premier League clubs chasing his signature."