"I could have signed for Everton on two separate occasions," he told Key 103. "The first time I thought the deal was done.
"I played a game for Birmingham at Newcastle and afterwards shook hands with everyone in the dressing room.
"I was driving down to Cardiff with Gary Speed going to play for Wales when the manager (Steve Bruce) rang me and told me the deal was off because the price had increased from £3million to £4million. I was devastated."
On the second occasion, loyalty to then Blackburn manager Mark Hughes won the day.
"Mark Hughes was my idol," reflected Savage.
"But I should have joined Everton because they are a massive club. It is my biggest regret."