Since Corinthians announced in the early hours of the morning that the deal was off, City have indicated it was due to the lack of a bank guarantee, with concerns over how the Brazilian club would fund a deal worth four times their previous transfer record.
Joorabchian dismissed that notion, claiming FIFA rules provided enough security for City.
"It had nothing to do with proof of funds," he said.
"Obviously there will be active people at City that might try to put some sort of spin on it, but I don't think the top management really believe it. They are both FIFA clubs, both FIFA members, and it would be almost impossible for Corinthians not to pay.
"They are the largest club in Brazil. There would not be any issue with it. It is almost like Barcelona, Real Madrid or Manchester United not paying. They are the largest club in South America and with that kind of revenue, I don't think that would be an issue.
"But from Corinthians' point of view, there was no point in doing so until the offer was agreed, and what kind of offer did they want to agree?"