Norwich City boss Glenn Roeder fears his bid for Birmingham defender Martin Taylor is dead.
Roeder told his club's official website: "It just so happens that QPR have offered a bit more - which is a worthless offer, because he won't go there.
"We have offered more than enough, and the money has to be spread around. It is all about valuations, and I know that our offer was an extremely good one.
"The deal might be completely stone dead but it might rear its head again at the end of the (transfer) window."