West Ham's deal to sign Celta Vigo striker Maxi Gomez is off, according to Sky sources.
West Ham offered Celta Vigo the £45m release clause but could not agree a payment structure.
Gomez is now close to a move to Valencia, who have offered cash and players as part of the deal.
The 22-year-old is expected in Spain on Wednesday to finalise the move.
On Monday, West Ham completed the sale of Marko Arnautovic to Shanghai SIPG.
Arnautovic, 30, passed a medical with the Chinese Super League champions over the weekend. His transfer fee has not been disclosed but Sky sources understand the deal will cost Shanghai SIPG in the region of £22.4m.
Lucas Perez departed West Ham to sign for Alaves for an undisclosed fee in June, while Andy Carroll left the club at the end of his contract.
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