Manchester City had high hopes of making another big-money signing to strengthen their full-backs, but have been dealt a heavy blow in their pursuit for Benjamin Mendy.
Monaco turned down a £44.5m bid submitted by the Citizens for the French left-back. The Ligue 1 champions value their player at over £50m and will hold out until their asking price is met.
Leonardo Jardim's side are likely have dismissed the offer having seen the amounts City spend on full-backs, most recently signing £50m Kyle Walker from Tottenham.
Mendy himself had hinted at a move to the Etihad, posting a photo of himself in Union Jack shorts with the caption 'see you soon', but City will have to up their offer if they are to reach an agreement for the 23-year-old.