Birmingham boss McLeish gives up on Tottenham striker Pavlyuchenko
McLeish currently has only two strikers as his disposal in Cameron Jerome and Christian Benitez because of injuries to Kevin Phillips.
McLeish said after Blues' 1-1 draw with Tottenham on Saturday: "It looks like the deal is dead in the water for Pavlyuchenko.
"It looks like we are not going to get the trophy signing we thought we might. But I think we have offered enough.
"We may now try and get a trophy signing on loan with a view to a permanent deal in the summer. We are in a position where we don't need to break the bank with Carson Yeung's money."