Inter have admitted defeat in the chase to sign Udinese ace Alexis Sanchez. "We can't afford him," said Marco Branca.
Speaking with the BBC, the Nerazzurri technical director revealed that they couldn't compete with Barcelona and Manchester City for the Chilean.
"Sanchez is a player we liked," Branca told BBC Sport on Wednesday afternoon.
"Manchester City raised their bid for him to €35m plus a bonus, which ruled us out of the race.
"In the end, the player preferred to go to Barcelona and they got him for €28m and a €10m bonus. Not many clubs can afford that."
Sanchez's proposed move to Barca has not been confirmed.
The official added that money is also the main issue which means City striker Carlos Tevez won't be heading to San Siro.
"He is a great player but a move for him is out of the question," continued the former Inter and Udinese striker.
"The market is crazy at the moment. We are looking for younger players now with great talent, who we can develop."
Branca, who added that he expects Samuel Eto'o and Wesley Sneijder to stay, also revealed why Andre Villas Boas joined Chelsea today and not Inter.
"He had a clause in his contract, like a player," the director noted. "It was €15m.
"We don't want to give Porto a job as well as him, so why should we pay them so much? Chelsea were the only club willing to pay."
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