Oran Kearney says Jamie McGonigle's proposed transfer from Coleraine to Crusaders is 'dead'.
The Crues have has a long-standing interest in the striker and had hoped to conclude a deal after having two previous bids rejected for the player.
Bannsiders boss Kearney said he would not stand in the player's way if the club received an acceptable bid.
It is believed they had wanted midfielder Philip Lowry to be included in any potential deal, but this was ruled out by Crusaders boss Stephen Baxter, with the Seaview outfit only offering a straight-up fee.
Speaking at the weekend Kearney said he does not now expect McGonigle to leave Coleraine ahead of the new season.
"There is nothing and as far as I am concerned at this point and time the deal is dead," Kearney told the club website.
"I do not want to sell him. I am not rushing out to create a transfer or an offer.
"The offer that has went in has been declined as such as it is not on the terms that we want it to happen and there has not been another offer so at this point and time there is nothing more to report."