The U's expected loan move for Trinidad & Tobago international Jason Norville has collapsed at the last minute, after parent club Watford decided they wanted to retain the striker for the rest of the season having been on trial with the U's for the past ten days.
A deal had been agreed earlier in the day for the 21-year-old striker but, having signed the paperwork at Layer Road on Thursday morning, he has now been recalled by the Hornets.
U's Chief Executive Marie Partner explained: "I have just received a phone call from Watford, who were particularly apologetic and embarrassed by the fact that they have had to recall Jason.
"In light of the recent disruption that has taken place at Vicarage Road with the manager leaving, their chairman felt that by allowing Jason to leave, it left their squad depleted and formally requested that he returned to Watford straight away.
"He had been in to Layer Road this morning and signed the paperwork involved to complete the move, but after Watford got in touch to say that they had changed their mind, this paperwork was not submitted to the Football League."
The pacey forward will return to Vicarage Road on Thursday afternoon to prepare for the Hornets' Easter fixture list. We will have further comment later in the day from Phil Parkinson.