Newcastle United have had an improved bid to sign Lille full-back Mathieu Debuchy rejected by club president Michel Seydoux.
The Magpies submitted a further offer for the 27-year-old after an initial bid was also turned down by the 2011 Ligue Une champions.
"I have decided that Mathieu Debuchy will remain at LOSC," Seydoux told French sports newspaper L'Equipe.
"The offer is definitely not at the value of the player."
Seydoux continued: "For Mathieu Debuchy to leave, it would have taken the offer to be consistent and commensurate with his replacement.
"As the conditions are not met, it is my duty to make a decision."
Debuchy has been a long-term target for Newcastle, who signed compatriot and friend Yohan Cabaye from the same club for £4.8m last summer.