According to Article 102 bis of NOIF (Norme Organizzative Interne della F.I.G.C).
The deal may expired, renewed, bought back or sold outright.
Deals that failed to form an agreement after the deadline, will be defined by auction between the 2 clubs.
Non-submission may lead to the rights is free to give to the opposite side.
The mother club could sell their rights to third parties, likes Emiliano Viviano in the last year.