Coastal club board member Atef Mabrouk announced over a week ago that the deal had gone through for EGP150,000.

However, Masri president Ali Faragallah said his side couldn't meet the Hammers' financial demands, and the deal collapsed as a result.

"We couldn't land Moharam because Tersana insisted to sell him for EGP300,000," Faragallah told FilGoal.com.

"The deal was important to us, but we couldn't afford it because we are suffering an acute financial crisis."