Neftchi was interested in Bulgarian national team player Martin Raynov.
Report says, citing Topsport, the 28-year-old midfielder had received an offer from the football club.
However, the talks were suspended because the parties did not reach a common denominator. The experienced player, who wants to play abroad, is likely to return to his latest club, Sofia Levski.
Notably, Martin Raynov, who only wore Bulgarian clubs' uniform during his career, played seven games for the national team.