PSV Eindhoven technical manager Stan Valckx is disappointed the club's last-ditch bid to sign Newcastle striker Albert Luque ended in failure.
PSV, who also had an offer to take the Spaniard on loan rejected last month, finally agreed terms with the Magpies over the transfer ahead of last night's deadline.
But United chairman Freddy Shepherd scuppered the deal after the club failed to bring in a replacement for Luque in time.
Valckx told De Telegraaf: 'It is a very big pity, we had an agreement with Newcastle United about Luque but because the chairman was obstructive things fell through.'
Newcastle boss Glenn Roeder said: 'He had a move to PSV teed up on the assumption that we could get someone, but when that didn't materialise he had to stay.'
Newcastle were chasing St Etienne striker Frederic Piquionne but he chose instead to join Monaco.