Lee Buchanan was heavily linked with a move to Nottingham Forest last summer but he’s now signed for Werder Bremen.
The Reds CEO Dane Murphy was desperate to add the Derby County player to the Forest squad 12 months ago.
He made three bids for the left-back with the final offer of £1.5 million being rejected by the Rams.
Now, their decision to reject Forest’s advances does look particularly foolish from a business perspective.

Buchanan’s team found a loophole in his contract that allowed him to leave for £400,000 amid the club’s financial uncertainties.
Last week, Derby came out of administration after they were purchased to end nine months of failed deadlines.
The damage was done as far as Buchanan was concerned though and he’s opted for a move to the Bundesliga.
He was unveiled yesterday and watched on as his new team defeated Karlsruhe 2-1 in their first pre-season friendly.
Interestingly, former Forest man Oliver Burke scored both goals and he could soon be striking up a left-sided partnership with Buchanan.
It had been claimed shortly after Forest won promotion that the Derby 21-year-old wouldn’t be back on the radar.
Forest now have bigger fish to fry and Buchanan might have been an option had the Reds failed in their promotion quest.
Forest were linked with Buchanan and Derby missed a trick
The Rams won’t be winning any awards for their business acumen over the last five years but not selling Buchanan last summer looks rather silly.
Forest offered them £1.5 million yet due to the fierce nature of the rivalry they chose to stay resolute.
Now, he’s joined a Bundesliga outfit for a fraction of that fee and supporters might be left scratching their heads.
Buchanan made 75 appearances for the Rams in total, scoring once and claiming four assists.

He might have proved a useful player for the club last season and indeed, in the future.
Forest did win promotion but the left-sided wing-back position did prove problematic at times.
Now, Forest will play in the Premier League next season, Buchanan in the Bundesliga and Derby will be left to count the cost of their latest mistake.