The 25-year-old suffered cruciate ligament damage while playing for Ittihad Jeddah in an Asian Champions League game on Tuesday.
Meteb, whose loan deal at Ittihad ends in the summer, will be out for between four to six months.
"He won't be able to join any European club following this injury," Nader Shawky told FilGoal.com.
"Meteb will return to Ahli once his loan ends. He will probably return to action in October."
The Egypt striker, who will miss the FIFA Confederations Cup in June, has not given up hope of playing in Europe since his move to English side Bristol City fell through in the summer of 2008.
Shawky revealed last month that several European clubs, which he refused to name, were interested in acquiring the services of his client.
Meteb's short spell with Ittihad was a relative success as he netted 13 goals in all competitions.