Hakim Ziyech, the sleek forward of Ajax Amsterdam signed a one-year contract extension at the club amid reported interest from Bayern Munich.
Bayern were thought to be keen to step up their pursuit of Ziyech after it was confirmed Manchester City star Leroy Sane sustained ACL damage in his right knee that will keep him out for up to seven months.
The Morocco international was reported to be available for €35million, but he looks set to stay at Ajax for the foreseeable future after signing a deal that runs until June 2022.
Ziyech followed in the footsteps of David Neres, who also agreed a one-year extension in Amsterdam on Wednesday.
Bayern are likely to have to look elsewhere as they try to add depth in the wide areas, after veteran duo Franck Ribery and Arjen Robben left at the end of their contracts last season.