David Beckham, 37, had hoped to be named as one of three over-age players but has not been selected by Olympic team coach Stuart Pearce.
It is understood Ryan Giggs, Craig Bellamy and Micah Richards will be the three over-age players confirmed by Pearce next week.
Beckham is understood to have been told by Pearce that he had chosen to pick Richards instead because he wanted stronger defensive options.
More top news
Jamie Oliver turned down the offer of playing a hobbit in the movie adaptation of the book by JRR Tolkien, the TV chef has revealed.
Children are being put at risk as 11% of posts for permanent children's social workers remain unfilled, experts have warned.
A Network Rail boss who presided over the Christmas trains chaos will not receive a bonus of more than £300,000 when he leaves in February