Espanyol have accepted a bid from Newcastle United for Steve Finnan, but the Premiership side are believed to have subsequently withdrawn from any possible deal.

Reports in the British press today had previously claimed that Hull would complete the signing of former Liverpool defender Steve Finnan on Friday morning.

It had been suggested that the 32-year-old had discussed personal terms and taken a medical at Hull on Thursday after the club reached agreement with the Barcelona club.

However, Espanyol are not satisfied with Hull’s proposal to pay a transfer fee in installments, over three years, and have rejected the offer from the Premiership club.

Ex-Ireland international Finnan is understood to be keen on a return to Britain after enduring a difficult five months since leaving Anfield in the summer.

There are at least five English sides showing an interest in signing Finnan but, at present, a bid from Newcastle United, in the region of €1.5 million, is the only offer to have been accepted by Espanyol. However, with Finnan currently in the UK in order to hold talks with any prospective clubs, the player expects to have his future sorted within the next 24 hours and further developments are anticipated.

UPDATED: It is understood that since going to press - the Newcastle United offer has been withdrawn.