(Cover) - EN Star Style - George Clooney will reportedly not be developing a fragrance with Coty.

The 47-year-olds representatives had been in negotiations with the world's largest fragrance company about developing his own signature scent, but the deal is now thought to have fallen through. According to a new report money was the root of the problem, with speculation a multiyear deal worth more than $30 million was discussed.

"George seemed to be not that keen, unless the deal really made it worth his while. But Coty pulled out, saying this figure made the deal impossible, a source told New York Post.

The perfume giant is renowned for collaborating with designers and celebrities for the creation of fragrances, with previous partners including Sarah Jessica Parker, Kate Moss, Kylie Minogue, Halle Berry, and Cline Dion.

Coty - who run the annual Coty Awards that can be won by anyone in the fashion industry - declined to comment and George Clooneys commercial agent could not be reached. (C) Cover Media