Boca Juniors have rejected a $16million bid from LA Galaxy for Cristian Pavon, sources have told ESPN Argentina.
Sources have told ESPN Argentina's Diego Monroig the Major League Soccer side submitted an offer for the forward over the weekend but Boca believed it to be "insufficient."
Pavon, 23, has been left out of the Boca squad to face Athletico Paranaense in the quarterfinals of the Copa Libertadores on Wednesday amid links with a move away.
It is understood that Boca value the forward at $24m and sources have told ESPN Argentina negotiations between the two clubs have now ended.
Sources have said Galaxy have turned their attention to Independiente forward Martin Benitez as an alternative option.
Pavon was part of the Argentina squad in the 2018 World Cup in Russia and scored four goals in 19 appearances for Boca last season.
The MLS side have failed to make any signings in the transfer window and forward Giovani dos Santos left to sign for Club America this summer.