The London club had reportedly reached an agreement with Vasco over a transfer fee, but the 29-year-old was unable to agree personal terms with the Brazilian club.
With Brazil’s transfer window closing on Friday night, Richarlison now appears likely to remain in north London.
According to BBC Sport, the proposed return to Brazil has fallen through despite Tottenham agreeing a fee with Vasco, with personal terms proving an insurmountable obstacle.
The development follows a turbulent spell for Richarlison, who was left out of Tottenham’s Premier League squad after a proposed £35 million deadline-day move to Everton collapsed.
He has since been training with the Under-21s and reportedly approached FIFA over terminating his contract, with nine months remaining on his deal.