"The deal was done," said McCarthy, who sought a move after losing his place in the Champions League final. "Everything had been agreed with Everton and then they pulled the plug."
This comes after comments earlier in the week saying that Porto had changed their mind about the player, and wanted to keep him.
It would sort of make sense for Everton to pull out, if a decision had been made not to spend any money before January (there has been no word on this from the club, which is very odd).