Folarin Balogun's £40 million ($54m) move from Monaco to Everton collapsed after the USMNT forward pulled the plug on the deal after the transfer deadline, sources told ESPN.
Balogun, 25, had travelled to Merseyside on deadline day to complete the move after the two clubs had agreed a deal for the former Middlesbrough and Arsenal player.
But sources said that the transfer had to be renegotiated between the two clubs after an unspecified issue emerged during Balogun's medical at Everton's Finch Farm base.
With the deal in the balance, Everton tried and failed to seal a loan move for Manchester United's Joshua Zirkzee.
But with Everton offloading forwards Beto and Iliman Ndiaye on deadline day, the club resurrected the deal for Balogun and submitted a deal sheet with the Premier League to complete the deal in an additional two hour window after the 2300 BST deadline.
Despite the extra time to finalise the transfer, sources have said that Balogun had a post-midnight change of heart and decided to walk away from the transfer and return to Monaco.
Balogun's return to Monaco leaves Everton manager David Moyes without attacking reinforcements unless the club can now find a free agent to add to their squad.
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