Inter and Spurs have been negotiating a deal for Sandro as part of their long-term alliance.
But problems appear to have arisen over a proposed link-up between the two clubs.
"Sandro is not moving in this transfer window," Inter's vice-president Fernando Carvalho told Radio Gaucho. "The partnership with Tottenham has not been finalised, there are a number of details which we did not sign up to.
"Sandro's exit could only have happened if this was in place.
"He will now play in the Libertadores for Inter, it may come in August that he will move to Europe - but that could be true of any of our players."