Dunfermline defender Sol Bamba is still likely to leave East End Park despite Watford pulling out of the deal to sign the Ivory Coast defender.
It had been expected that the 23-year-old would complete his transfer after returning from the Olympics.
Pars boss Jim McIntyre told his club website: "The transfer was agreed.
"And, for whatever reason only known by them, they have decided to pull the plug on it. It was disappointing, but we move on."
Bamba, who arrived in Fife from Paris St Germain in 2006, returned to the Dunfermline side in Wednesday's 2-0 Challenge Cup defeat by Queen of the South.
He was a surprise inclusion in a youthful line-up after returning earlier than expected, on the morning before the game, from Beijing.
"Bamba is a good player and he is back in the squad," added McIntyre.
"I thought he did very well considering he travelled all the way back from Paris through the night."
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