"Transfer negotiations with Liverpool and Nabil Fekir for the transfer of the captain of OL have not succeeded and Olympique Lyonnais have made a decision to put an end to this negotiation tonight at 8pm", Lyon said in a statement on their official website on Saturday night.
The French outfit have not ruled out the possibility of Fekir moving to another European powerhouse though, provided that the price is right. Liverpool, meanwhile, have already confirmed the signing of Fabinho and will move on to other targets with the goalkeeping department still a matter of concern for the Reds.
With France being one of the hotly tipped favourites for the tournament, it could be a while before Liverpool and Lyon return to the negotiating table. He is in France's World Cup squad.
Lyon have announced that they have ended negotiations with Liverpool over the sale of Nabil Fekir and the attacker will now remain at the French club.
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Before the modern PSG came around, Lyon was the dominant force in Ligue 1, winning seven straight titles from 2001-2008.
"And even if he did not leave, he won't be devastated", Le Graet said at the opening of an indoor football complex in Lyon.
"Liverpool's interest exists, but for now nothing is done".
That said, they still do have more glaring weaknesses at the goalkeeper and center-back position, which have looked frail recently, particularly in the Champions League final.
"In this period of transfers where the slightest rumour is often presented as a reality, Olympique Lyonnais recalls that only the information disseminated by the club on its website is authentic".