Newcastle's improved offer for Mathieu Debuchy has been rejected, according to Lille chairman Michel Seydoux.
Debuchy, 27, has been a long-time target of the Magpies, with the Premier League club having already failed with an opening bid of €5 million.
French newspaper L'Equipe claimed early on Thursday that Newcastle had raised their bid to €6 million plus a sell-on fee percentage.
But Seydoux has rejected it, telling L'Equipe: "I decided that Mathieu Debuchy will remain at LOSC. The offer from Newcastle is definitely not at the value of the player.
"It would have taken the offer to be consistent and commensurate with its replacement. As the conditions are not met, it is my duty to make a decision."
It remains unclear whether Newcastle will return with a fresh bid - although current Newcastle midfielder Yohan Cabaye, who joined the club from Lille in 2011, recently expressed his belief that Debuchy is keen to make the move to Tyneside.