Erick Torres will not be joining Veracruz and will remain with the Houston Dynamo.
After several days of negotiations and with a deal expected to close on Monday, a source told ESPN Mexico that the teams couldn't reach an agreement to bring the Mexican striker back to Liga MX.
Torres, who will turn 25 later this month, notched 14 goals in 27 league appearances last season, five which came from the penalty spot.
Prior to 2017, Torres had struggled mightily in Houston, failing to score during both the 2015 and 2016 campaigns. He was loaned out twice during that period to Liga MX sides Guadalajara and Cruz Azul, but a knee injury during his spell with the latter club resulted in his return to Houston.
Torres first broke in with Guadalajara in 2010, scoring 14 goals in 65 league appearances over the next three years. He was then loaned out to now-defunct MLS side Chivas USA, where he went on to score 22 goals in 44 appearances over two seasons.
He was acquired by the Dynamo as a designated player for a reported transfer fee of $7 million just prior to the 2015 season.