An HCMC FC official confirmed the rejection on Saturday, saying both Inter Miami owner and former British star, David Beckham, the club's president, as well as coach Diego Alonso insisted on retaining the midfielder for the 2020 Major League Soccer season.
Last week an HCMC FC spokesperson had revealed the plan to buy midfielder Lee Nguyen, saying, "We decided to invest heavily in Lee Nguyen because we believe in his talent and work ethic."
But the club still hope to sign the 33-year-old in the future, saying they are willing to negotiate another deal later this season or next season or if Nguyen indicates he really wants to play for the Vietnamese club.
He played for Hoang Anh Gia Lai and Becamex Binh Duong from 2009 to 2011, and was highly rated despite having some trouble adapting to the football environment in Vietnam.
He then returned to the U.S. to play, and was called up for the national team nine times by coach Jürgen Klinsmann.
He represented the U.S. at the 2007 Copa America.