Former Blue Kieron Dyer's move from Newcastle to West Ham is reported to have collapsed. The Magpies are understood to have raised their asking price for the England international to £8 million.
The switch looked all set to go through at £6 million, with Dyer having undergone a medical at Upton Park, until Newcastle's revaluation of their player.
Town would be due an undisclosed percentage of any profit Newcastle make on the £6.5 million they paid the Blues after Dyer's 1999 move to the North-East.
Meanwhile, Cardiff are reported to be back in for ex-Town loanee Franny Jeffers. The Bluebirds are understood to be trying to persuade Blackburn to drop their asking price for the one-time England frontman.
Earlier in the summer, the Blues agreed a fee of around £700,000 for Jeffers, but the deal fell through due to the striker's £10,000-a-week wage demands.
Elsewhere, former Town defender John McGreal has failed to win a contract with Colchester. The 35-year-old played in a trial game against Gillingham on Tuesday but was unable to impress Geraint Williams. McGreal was released by Burnley at the end of last season.
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