Oxford have confirmed that striker James Constable has rejected a move to Swindon.
The U's hitman was expected to agree terms on a move to the County Ground after Paolo Di Canio's side had an offer accepted on Thursday.
However, in a statement published on the club's official website on Thursday night, Oxford confirmed: "Following the announcement earlier in the day and after further discussions during the afternoon it has been decided that James Constable will decline the opportunity to speak to Swindon Town FC.
"James will remain an Oxford United player and will be back in training [on Friday] and preparing for our home game against Hereford United on Saturday."
After the announcement, Constable tweeted: "This has been one of the toughest days I have had in my career, never wanted to leave the football club, it means everything to me!"
The 27-year-old has netted nine times in 28 appearances this season.