Fifa has refused to authorise Daniel Cousin's £3m move from Rangers to Fulham, Rangers have said.
Rangers' chief executive Martin Bain was "disappointed" with the decision which was taken after several weeks of deliberation.
Cousin, 31, has played for two clubs – Lens and Rangers – already this season and Fifa rules prevent a player appearing for three sides in the same campaign.
Rangers and Fulham had hoped Fifa would give the go-ahead to the move, which was wanted by all parties, however striker Cousin will now remain with the Glasgow side for the rest of the season.
Uefa has opened disciplinary proceedings against Atletico Madrid and Bolton Wanderers over crowd disturbances at the Vicente Calderon last week. The Uefa Cup match ended 0-0, Bolton winning the tie 1-0 on aggregate.
Bolton said their fans had been subjected by Spanish police to "a number of assaults and unprovoked baton charges before, during, and after the game". Official reports have been submitted to Uefa's control and disciplinary body, which will meet on Thursday 20 March.
Spanish police said the problems were "just the usual at any football game" and refused to respond to Bolton's allegations.
Greater Manchester Police – the chief superintendent, David Lea, was in the stadium – said Bolton fans were not at fault and pledged to help the club compile a report for Uefa.Reuse content