Zane Harrison is expected to stay with the Gold Coast Titans, complicating the PNG Chiefs' search for a halfback.
Reports said he sought about $900,000 per season to renew his deal.
His manager said the figure had been greatly exaggerated.
Out of contract after 2027, Harrison appeared set to test the market on November 1 amid drawn-out negotiations.
The Titans resisted the reported fee but see him as their long-term halfback in a thin market.
They signed Luke Hanson from the New Zealand Warriors as cover, but Harrison remained their priority.
The Chiefs were expected to pursue Harrison if he became available.
They lack a halfback for their inaugural season and need a hooker and forwards; Sam Walker and Nathan Cleary are also linked, though pursuing big-name backline players could further strain a salary cap already looking shaky.
Harrison is viewed as a cheaper option and wants to stay on the Gold Coast, where Josh Hannay is pursuing a major 2027 turnaround.