AMSTERDAM, August 11 (Eredivisie) - Real Madrid have ended their interest in Wesley Sneijder after their latest move for the midfielder was rejected by Ajax, the Dutch club has announced.
The Spanish giants had tabled a bid of around 24million euros (£16million) for the 23-year-old in midweek, with the Dutch club thought to be holding out for 30million euros (£20million).
Ajax then lowered that price tag on Friday, with reports in Spain suggesting a deal had been reached by the two outfits.
Those rumours were later quashed by Ajax, who have now announced Madrid have withdrawn their interest after the clubs were unable to agree on details.
A statement on www.ajax.nl confirmed: 'Ajax have rejected an ultimatum by Real Madrid about the transfer of Wesley Sneijder. The Spanish club has subsequently withdrawn its offer for the Ajax midfielder.
'Ajax received an official offer from Real Madrid about the transfer of Wesley Sneijder for 24million euros on Wednesday. In a fax it was announced that Sneijder had to be eligible to play in Spain before August 24.
'Ajax then lowered the initial fee from 30million euros to 27million euros. Real Madrid reacted on Friday 7pm with the message that their offer was not negotiable.
'Then all of a sudden an ultimatum was issued to decide with a 'yes' or 'no' within the next three hours.
'Ajax refuse to be put under pressure and have rejected the ultimatum. Real Madrid then withdrew their offer.'
The news will be welcomed by Ajax coach Henk ten Cate, who will have Sneijder available for the opening leg of their Champions League third qualifying round clash against Slavia Prague on Wednesday.