Ranocchia came close to joining Gala before Monday's Turkish transfer deadline.
"They wanted to make us pay too much, so the transfer collapsed at the last minute," said Galatasaray spokesman Ergun Sukru.
"We considered the costs to be unreasonable. He wanted 2.4m wages for just four months. It was laughable.
"We had an agreement with the club to take him until the end of the season on loan, but couldn't agree terms with the player."
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