Transfer on hold
This means that the transfer has neither been accepted or rejected. It may mean that you need to change something i.e. offer the other team or player, usually both, more money, change the length of the contract, offer a different player in exchange if you are trading.
When it has happened to me in the past usually you can get the player by offering him or his team more money but sometimes it doesn't matter what you do the transfer will break down. Best thing to do is disable auto save and then keep changing the terms and going back to the old save if it keeps being rejected.