The Premier League side had been expected to wrap up a loan move for the England star from LA Galaxy in the coming days.
Harry Redknapp revealed though that the deal ran into a problem, but that Beckham would be starting a month training with the London club instead.
“I don’t think (a loan deal) will happen — there’s a big problem with the insurance. David is welcome to come and train with us for a month, which I think he would like to do. But as for him playing — it’s looking like a no-goer.”