Valencia boss Marcelino has revealed that Rafinha's proposed move to the Mestalla has broken down.
Los Che have been strongly linked with a move for the Barcelona attacker over the last few weeks, and it was reported on Saturday that the 26-year-old was on the verge of joining the former Spanish champions.
Marcelino, however, has claimed that the loan switch "has not been approved", with the Brazil international now set to remain at Camp Nou until at least the January transfer window.
"The club have informed me that the transfer of Rafinha has not been approved. I feel like I have been told something (about the transfer) and then it has changed," Marcelino told reporters.
"I have respected the decision, but I have confirmed to the board that I believe we need cover in midfield."
Rafinha, who has missed large chunks of football in recent years due to two separate knee injuries, has been heavily involved for Barca in the early stages of the 2019-20 campaign due to a lack of options.
Ousmane Dembele, Lionel Messi and Luis Suarez are all still on the sidelines for the Catalan giants, who were held to a 2-2 draw by Osasuna in the league on Saturday afternoon.