AC Milan's pursuit of Carlos Tevez appears to be at an end after they completed the signing of Maxi Lopez from Catania.
Milan revealed earlier this week that should the club fail to acquire Manchester City striker Tevez, they would instead sign Lopez and the club had set a deadline of Friday for a final decision on Tevez.
The Rossoneri had already reached an agreement with Catania for Lopez last month but had not given up hope of signing their main target Tevez.
However, it appears the move for the unsettled Tevez has now fallen through with the player's agent, Kia Joorabchian, admitting earlier on Friday that the Argentine was likely to stay at City until the summer.
Inter Milan and Paris St Germain were both chasing Tevez, but both clubs ended their interest in the player earlier this week after failing to agree a deal with City.
Milan have now seemingly pulled out of the race after deciding to push through a loan move for Lopez, with the option to make the move permanent in the summer.
Milan vice-president Adriano Galliani claims he was still hopeful of signing Tevez, but had to switch his attentions to Lopez after finally failing to agree a deal with Manchester City.
"At 18:30 I was convinced that Tevez would join us," Galliani told the club's official website.. "We were very close.
"The day today was still very important because we have solved some misunderstandings born in recent days with City. Relations with the English club are much improved, but...patience...life goes on.
"Will Tevez stay at City? I don't know what will happen in these last few days of the transfer window. The market will reopen in four months - we'll see.
"Tevez was ready to fly to Italy. It's a shame. I would like to publicly thank him for waiting. We will talk to City again in June."
Galliani also hailed the signing of Lopez revealing they had a deadline to do the deal for the player.
"I chose to respect and honour the words promised to Maxi," added Galliani. "We had a deadline of 19:00 today and since we did not reach an agreement with City we have filed the contract with Maxi instead.
"He waited for us. He is an important player who will be very useful for us and who we can use in the Champions League.
"We will only sign him for now. He has a lot of desire."