Gino Peruzzi has turned down a move to Sunderland after the English Premier League club was given permission to talk to the 21-year-old following an agreement over a transfer fee with Velez Sarsfield.
Velez vice president Julio Baldomar claimed Peruzzi has rejected signing for Sunderland after failing to agree on personal terms, despite Sunderland offer, reported to be around £5 million (7.4 million), being accepted by the Argentine club.
"It's the first time that something like this has happened to us," Baldomar told TyC Sports.
"The player and his agent have said that what Sunderland offered him isn't enough. This has given us several problems.
"We got to an arrangement from club to club very fast. We arranged the amount of the transfer and everything was OK between Velez and Sunderland.
"But, suddenly, the player and his agent have said that what has been offered as a contract to Peruzzi isn't enough."
Baldomar said he could not understand why Peruzzi would reject the advances of Sunderland, and is hopeful a move can be reignited soon.
"This situation is something really weird," he added. "Usually, when a proposal arrives from Europe, the player is the first person interested in having the transfer done.
"And, even in this case, when an offer has arrived from English football, the player should be really interested.
"But, if he says that what he would receive isn't enough, we can't do anything about that.
"But it's weird because what the player will receive for the transfer is a lot of money as he will receive 15 percent of what Sunderland pays to Velez.
"We will see what happens in the next hours because if Peruzzi finally doesn't get transferred that gives Velez lots of problems."
Paolo Di Canio is determined to strengthen his squad ahead of the new season and has already completed moves for Valentin Roberge, Cabral, Modibo Diakite - all free transfers - and Vito Mannone.
Jozy Altidore is also closing in on a move to the Stadium of Light with the American expected to be unveiled sometime this week.