Neymar had been expected to complete his move to the French giants by the weekend after Barcelona announced the striker's decision
"We can confirm that the legal representatives of the player attended La Liga to pay the clause and this has been rejected," the spokesperson told AFP.
Neymar had been expected to complete his move to the French giants by the weekend after Barcelona announced the 25-year-old striker's decision to leave on Wednesday on the condition his buyout clause was met.
However, president of La Liga Javier Tebas has been an outspoken critic of PSG's move to snatch one of the Spanish league's biggest stars.
Tebas believes the astronomical sums being spent by the French giants, including a reported 30 million euro salary after tax for Neymar, makes it impossible for them to comply with financial fair play regulations (FFP).
Clubs can be sanctioned by UEFA for making a loss of more than 30 million euros over a three-year period.
PSG have already been fined and saw their Champions League squad limited by UEFA for breaches of FFP in 2014.
"We will not accept this money from a club like PSG," Tebas told Madrid sports daily AS on Wednesday. "Especially when this club is infringing rules and laws."
Spanish clubs have dominated the Champions League in recent seasons with Barcelona and Real Madrid winning the competition for the last four years and Tebas fears their place at the top of the pyramid could be threatened by "financial doping."
The role played by PSG's owners Oryx Qatar Sports Investments (QSI) has been looked upon skeptically in Spain with the El Mundo newspaper describing the move as a "state signing."
"The clubs/state that compete with financial doping can destabilise professional football in Europe, the international market and competitions," added Tebas.