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Chimbonda currently plays for French club Bastia who were relegated last season. All had been going well with the deal and Chimbonda was expected for a medical at the JJB last week, when his signing was set to be announced.
However his club Bastia increased his asking price at the last minute and Paul Jewell pulled out, feeling that he was being messed about.
Jewell said: "I thought we had a deal with him [Chimbonda] last week. But then his agent came back to me and said his club wanted more money for him. I told them I wouldn't go any higher.
"He's a good player, but I felt we were being messed about. I've pulled out of that deal at the moment and I'm looking elsewhere."