France international defender Mathieu Debuchy is to stay with Lille rather than join Newcastle after the English Premier League club failed to match the French side's valuation of the player, Lille chairman Michel Seydoux said Thursday.
"I have indeed received a new offer from Newcastle which does not meet our expectations," Seydoux told AFP of the bid which was reported to be around six million euros.
"As they have no intention of submitting a new offer I have decided to stop the negotiations - Mathieu will continue the adventure with us for another season - the issue is closed."
Debuchy had said last month he wanted to leave and with former clubmate and fellow France star Yohan Cabaye already at Newcastle was hoping to head for Tyneside.
Coach Rudi Garcia said: "He is disappointed. He had expressed his desire to leave and it's a normal reaction. Now we have to get to work on preparing for the start of the season."