The Argentine's move to Sunderland appears now off.
A statement on Velez's official website, velezsarsfield.com.ar, said: "As reported earlier, during the week directors (Julio) Baldomar and (Eduardo) Ordonez traveled to England with the player Gino Peruzzi to advance negotiations over the latter's transfer to Sunderland of that country.
"After agreeing contractual terms, the player underwent a medical examination, which is detailed in this report.
"The professionals found repercussions from the torn ligament Peruzzi suffered last April against Olimpo in the Copa Argentina, which prompted a three-week absence from games.
"To obtain further information about the injury and its evolution, they made contact with Dr Ricard Coppolechia, who answered their questions.
"The evaluation had a positive result with Prof Mariani recommending specific work on the affected muscle area.
"Meanwhile, Sunderland had travelled to Hong Kong for some international matches, so the English club's authorities communicated their intention to sign the contract on the return of their president in the course of this week.
"Our club's entourage returned to Argentina on Sunday, anticipating that Gino Peruzzi will travel to England again in the coming days."