A two-day Premier League inquiry has decided that a letter, signed by David Gill confirming a sum ($17million) at which United would be willing to sell, did not constitute a definitive undertaking from the Old Trafford outfit to offload the player.

The 29-year-old Argentina international contended that once Liverpool manager Rafael Benitez had matched the figure stated, he should be allowed to become the first player to move from United to Anfield since Phil Chisnal in 1962.

"The Premier League Board appointed panel have heard submissions of evidence from both parties and has ruled to dismiss the player's case," said a Premier League statement.