Sevilla sporting director Monchi has confirmed defender Diego Carlos will stay with the Spanish club this month, despite Newcastle's firm interest.
Monchi, who didn't rule out a summer sale, confirmed Newcastle's bid for the defender but revealed it was rejected because it did not meet Sevilla's valuation of the player.
“The Newcastle offer was a good offer, a respectable offer. I have to say that,” Monchi told i.
“But the offer, our board and management team thought it wasn’t enough. It’s true that maybe it wasn’t the right time. It’s a difficult market to find a replacement for a player like Diego Carlos.
“It’s a market that takes place over a very short period of time. Maybe if that offer comes along in the summer then things might have changed.
“The offer was a very good offer, a very respectable offer but not at the best possible time.”
The Magpies have seen two bids turned down thus far, but reports coming out of Spain suggest that a third bid could be imminent, and it could be a hefty one.