AC Milan forward Robinho is set to remain with the Rossoneri next season after Santos abandoned their chase of the 29-year-old.
Robinho has been strongly linked with a return to Brazil and Santos appeared the most likely suitors to prise him away from Italy.
The former Brazil international was prepared to take a cut in wages to leave Milan, but Santos confirmed the striker's personal terms were too difficult to secure a deal.
"Santos announce that an agreement to sign Robinho during this transfer window has not been reached,” read a statement from the Brazilian club. “The club, the player and Milan tried to find a consensus. The amounts involved in the operation, between the fee for the Italian club and the payments to the player, are still a long way from the reality of Brazilian football.”
According to Galliani, however, there is still time for the two clubs to sit down and thrash out a compromise. The Serie A club appear keen on offloading Robinho, who finds himself behind Stephan El Shaarawy, Mario Balotelli and Giampaolo Pazzini in the pecking order.
“The market in Brazil is open between 20 June and 20 July - it’s like our January window for them,” he is quoted as saying by Gazzetta dello Sport. “Negotiations are underway for Robinho and the 20th is the deadline.”
Robinho started his career at Santos, scoring 61 goals for the Sao Paulo club between 2002 and 2005 before moving to Real Madrid. He subsequently played for Manchester City before returning to Santos for a brief loan spell in 2010.
Milan signed the Brazil international from City in 2010, but his opportunities dried up under Massimiliano Allegri last season, particularly following the arrival of Balotelli from City, and with three Italy international strikers on the books, the chances of him becoming a first-team regular next season appear slim.