Zenit St Petersburg claim that Nani's wage demands were the main reason for him not moving to Russia.
Zenit were not shy in splashing the cash this summer after they completed the €100million double swoop of Hulk and Axel Witsel.
The Russian champions admitted that Hulk and Witsel were their top priorities, but they were still keen on Manchester United winger Nani.
The 25-year-old currently has two-years remaining on his deal at Old Trafford, but talks are reported to have stalled over an extension.
Zenit director-general Maxim Mitrofanov has now admitted that if Nani had agreed terms, he could have made the move to Russia's Second City.
"If Hulk had demanded €8 million to €10 million a year, these conditions would have been unacceptable for Zenit," Mitrofanov said.
"The transfer of Nani failed mostly due to this reason, as he asked for an enormous salary and we would not pay him."
Mitrofanov admitted that Nani and Tottenham target Joao Moutinho were not their 'top' targets.
"We really have been negotiating Nani and Moutinho, but Hulk and Witzel were top priorities," he said,
"It must be understood that any transfer campaign is based on the list of players, ranked by priority."
The club were also looking into bringing Arsenal's Andrey Arshavin back to St Petersburg, but the player is reported to have decided to remain in London.