Sevilla sporting director Monchi believes Diego Carlos is happy to remain in Spain, despite approaches from Newcastle United.
The Magpies pushed incredibly hard to sign the Brazilian defender after receiving encouragement that a £25million deal could be completed.
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But as negotiations continued, the La Liga side increased their valuation, ultimately forcing United to start looking at alternative targets.
For all of the club’s new-found wealth, they will not be taken advantage of in the transfer market, something they feel Sevilla tried to do.
Carlos was keen on a switch to St James’ Park and there were reports that he was left angry by the Spanish outfit’s refusal to sell.
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However, Monchi, speaking to the i, insists that is not the case as the 28-year-old prepares to challenge Real Madrid for the La Liga title.
Monchi said: “I was talking to Diego this morning and he’s happy. At the end of the day, he’s staying here at his club, a club that really wanted him.
“If he was really angry then maybe he would have changed his opinion but he seems happy.”
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Monchi has ruled out Carlos joining Newcastle before Monday’s 11pm deadline and there is an acceptance on United’s side that the pursuit is over as their turn their attention to Brighton defender Dan Burn.
However, the door has seemingly been left open to revisiting a deal at the end of the season, if Premier League safety is accomplished.
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“The Newcastle offer was a good offer, a respectable offer,” Monchi said. “I have to say that.”
“But the offer, our board and management team thought it wasn’t enough. It’s true that maybe it wasn’t the right time. It’s a difficult market to find a replacement for a player like Diego Carlos.
“It’s a market that takes place over a very short period of time. Maybe if that offer comes along in the summer then things might have changed.
“The offer was a very good offer, a very respectable offer but not at the best possible time.
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“We consider the negotiation finished because I don’t think we’re going to start negotiations again because we’re all clear how we think about this transfer.”