Ajaccio say Alessandro Del Piero has rejected the opportunity to move to the Stade Francois Coty after lengthy discussions.
The ex-Juventus attacker is currently lining out for Sydney FC in Australia but the French outfit, who are managed by former Bianconeri striker Fabrizio Ravanelli, had hoped to lure the 38-year-old to Ligue 1.
"For several weeks now, the club had been in advanced talks with the famous Italian striker, Alessandro Del Piero," a statement on Ajaccio's official website read.
"The 38-year-old Sydney FC striker has finally decided not to come to AC Ajaccio. Some details have pushed Alessandro Del Piero to continue his adventure in Australia."
Del Piero, who made the move to the A-League last summer, and Ravanelli both started in Juve's Champions League triumph over Ajax in 1996.