Reading's director of football Nick Hammond has revealed that the club were unsuccessful with a bid for a player that would have marked their record transfer fee.
The Royals have added four players this month, but worked throughout the day to try to secure a fifth new arrival.
"We have been working throughout the day on one last record deal to bring a player to the club but it hasn't come to fruition," said Hammond.
"We've made four very good signings in this window and you can see that the players we've brought in have already made an impact."
Early speculation has claimed that the subject of the offer was Blackpool winger Thomas Ince.
