Merseyside Police has found no evidence of wrongdoing in Ross Barkley’s transfer from Everton to Chelsea.
Mayor of Liverpool Joe Anderson wrote to the force, the Football Association and Premier League requesting an investigation into the £15m move earlier this month.
It is understood that no offences have been identified by Merseyside Police.
However, it is understood Assistant Chief Constable Serena Kennedy has written to the Football Association and Premier League inviting them to inform them should they choose to hold their own investigations and discover any evidence.
Anderson, a lifelong Everton fan, argued the sale of Barkley for the £20m less than what had been agreed in August, when the player pulled out of a move at the last minute, "at best represents a very poor deal for Everton Football Club".
He added: "At worst, it could be seen as a deliberate attempt to drive down a player’s value in the transfer market so as to benefit the player, his agent and the buying club."