Colo Colo have revealed that a financial problem is set to scupper Gonzalo Jara's proposed move to West Brom.
The Baggies agreed a deal for the versatile Chilean defender earlier this week believed to be worth around £1.7million.
It was thought the transfer was close to being finalised, with Jara waiting for international clearance before linking up with his new team-mates.
However, the switch will not now go ahead after Colo Colo encountered a late hitch in their dealings with West Brom.
"The documents have been signed and the operation was perfect but in the last hour we have confirmed money problems for West Brom," said Colo Colo president Gabriel Ruiz Tagle.
"Our mission now is a moral one to the player. Gonzalo Jara is in our squad and there are no problems for him to stay at the club.
"We are totally convinced that it will be possible for him to leave at another time."