Former Atletico Madrid striker Kiko has rejected a move to Bolton Wanderers after the Premiership leaders asked him to go for a week's trial before signing.
"Kiko...doesn't need to prove anything to anyone and that is why we have decided not to accept the offer," Miguel Narvaez, the player's father and representative, was quoted as saying in today's Spanish newspapers.
"Fortunately there are other clubs still interested in the player and we will continue to listen to offers. I hope everything will be sorted out soon."
The 29-year-old striker, who won his last cap in 1998, visited Bolton at the weekend and had appeared to be close to signing for the club.
Kiko, who hardly played for Atletico in the last two seasons after operations on both ankles, is out of contract after eight years with the Spanish club and can move without a fee under the Bosman ruling.
He has been associated with a number of clubs since the end of last season.
He seemed set to join Italian club Lazio after passing a medical in Rome in July but the Serie A club subsequently pulled out of the deal.
Kiko has also been linked with moves to Newcastle United and Turkish club Galatasaray.