Benito Carbone last night staged a dramatic U-turn and pulled out of a deal to join Bradford at the 11th hour.
Bradford chairman Geoffrey Richmond had already agreed terms with the Italian striker's agent Giovanni Branchini, describing the transfer as "the most exciting in the club's history".
Bradford had even called a press conference for this morning such was their confidence in landing Carbone, who seemed set to put pen to paper to a three-year deal.
A bitterly disappointed Richmond said: "Following a meeting between Benito Carbone and the player's representative in Milan, the player has decided not to accept the Bradford City offer.