AC Milan president Silvio Berlusconi says it will not be signing Kaka or Mario Balotelli.
When asked on Thursday who of the duo was more likely to join this month, Berlusconi replied, "neither of them, it's not possible to play Monopoly in times like this."
Milan idol Kaka has been strongly linked with a return to the Italian club from Real Madrid, and said he was willing to reduce his salary. But tax laws in Italy have proved to be a stumbling block.
The club was also in talks to sign lifelong Milan fan Mario Balotelli but Manchester City has not dropped its asking price for the Italy striker.
Berlusconi told Corriere dello Sport that vice president Adriano Galliani "always hopes but then the hard and fast language of money stops him from acting."
Milan have some money to spend following the sale of Alexandre Pato to Corinthians for 15 million euros ($20 million) but Real is holding out for a expensive permanent deal for Kaka, who left the San Siro for Spain for 68.5 million euros ($91.4 million) in 2009.
For its part, Manchester City is unwilling to part with Balotelli even if his asking price is met.
City manager Roberto Mancini recently denied speculation he was ready to let the Italy international leave, saying: "No, it is not true. I am very, very happy (with Mario)."
Information from Press Association and The Associated Press was used in this report.