West Ham United co-chairman David Gold says Tottenham striker Emmanuel Adebayor priced himself out of a move.
The striker refused to back down on his demand for a £5million pay-off from his club after Spurs had offered him a settlement to go.
Describing the on-off transfer, Gold said: "Slaven showed interest - we showed a bit of interest - and then it sort of all went quiet and Slaven obviously decided against it.
"It was very expensive player and I think he just weighed it up and felt with Andy [Carroll] coming back, with [Enner] Valencia coming back, with [Mauro] Zarate coming back and, of course, he was confident we would bring in the player from Hull [Jelavic]."