Dinamo "gave up on bringing Robert Kovac into its ranks because it could not meet his demands," it said in a statement.

According to local media, Dinamo could not guarantee to pay an agreed three-year contract worth six million euros (8.1 million dollars), even in case of possible injuries to the 33-year-old.

Dinamo's sporting director Zoran Mamic said last week that Kovac had agreed to play for the reigning Croatian champions after securing his transfer from Italian giants Juventus.

"I had a few demands and Dinamo did not meet them. Since this deal has failed, I am returning to Turin," said Kovac, adding his Juventus contract lasted another two years.