Fekir was expected to join Liverpool on Friday but after a knee problem was reportedly found during his medical, the deal was delayed.
There were doubts as to whether the playmaker would pass a medical with the Premier League side due to a knee injury.
In fact, latest reports from RMC Sport claim that the French global has already passed his medical in France, and Liverpool could announce his arrival later today.
"Lyon is announcing that the negotiations with Liverpool and Nabil Fekir for the transfer of the Lyon captain have not succeeded and Lyon have made a decision to put an end to the negotiations tonight at 8 p.m.", the statement read.
Lyon president Jean-Michel Aulas is notoriously tough in transfer business but it is my understanding the deal has not fallen down because Liverpool tried to renegotiate the terms of the deal.
However, it does not look likely that any deal for Fekir will happen whilst France are in the World Cup, with Fekir being named as part of the 23 man squad that will play in Russian Federation. Liverpool, meanwhile, have already confirmed the signing of Fabinho and will move on to other targets with the goalkeeping department still a matter of concern for the Reds.
Known for his outstanding technical abilities, the 24-year-old will prove to be a fantastic addition to this Liverpool team, who have shown tremendous potential over the past few months.
Now we must wait and see if Liverpool and Klopp go back in for a player they have coveted so much.
More is likely to be known on the matter after France's final World Cup warm-up game against the United States, which the attacking midfielder is set to play a part in.