Como’s Spanish striker Ivan Azón is reported to have told his club he will not sign for the Blues on loan and will only leave the Serie A side to join Valencia.
The Blues emerged as contenders to bring in the 22-year-old on Friday, protracted talks with Valencia having stalled.
At the weekend, it was reported in Spain that Azón still favoured a switch to the Mestalla and now, according to Spanish radio network Cadena SER, the former U21 international has told his club he will not join the Blues with Valencia the only club he wants to move to.
Valencia are understood to have offered Como €500,000 (£435,000) to loan Azón for the season with the Blues reported to be willing to pay nearly triple that figure.
The Murciélagos are now said to be weighing up whether to offer a sum nearer to the Blues’ figure, with other clubs in Spain, Getafe among them, and an unnamed Bundesliga side also said to be keen, or look elsewhere for a frontman.
Azón, who is 5ft 11in tall, started his career with his hometown club Real Zaragoza before moving to Como in January for €2 million (£1.7 million) plus a further €500,000. He is yet to take to the field for Como, in part due to injuries.
For Real Zaragoza, he scored 27 goals in 150 appearances, also picking up nine assists.