Peterborough United have ended negotiations with Blue Square Premier League side Cambridge United over a proposed transfer of striker Scott Rendell, who is currently on-loan at the Abbey Stadium.

Posh chairman Darragh MacAnthony accepted a bid for the striker on Saturday, but Cambridge have tried to re-negotiate the deal and Director of Football Barry Fry has revealed the club have now pulled out of discussions.

'Scott will not be signing for Cambridge on a permanent basis. We accepted a bid at the weekend and Cambridge have come back and said that they now just want to extend his loan deal. Scott has scored a number of goals for Cambridge in recent weeks and has been performing very well. We will not be extending his loan deal with Cambridge,' Fry said.

Rendell's loan spell is set to conclude at the beginning of January. A number of clubs are interested in the front man's services.