ReutersBesiktas were recently barred from entering competition following an inability to pay staff wages and taxes.
"We have broken off all negotiations with Besiktas for Ospina, the Turkish club not being able to present bank guarantees requested," said a spokesman for Nice, who finished 13th in Ligue 1 last season.
Colombia international Ospina, 23 has been at Nice for four years and has one more season left on his current contract.
The play himself has already revealed that he is "more likely to stay than to leave", according to French agency AFP.
