Brazilian club Sao Paulo say they have pulled out of talks with 2002 World Cup winner Rivaldo because they cannot afford him.

"There's no chance of Rivaldo being signed, Sao Paulo are a responsible club and are not going to pay over our limits," Juvenal Juvencio, the club's director of football, told reporters after a meeting on Tuesday evening.

Sao Paulo, who finished third in the Brazilian championship that ended 10 days ago, had been looking for partners to invest in Rivaldo but failed to close a deal with any potential sponsors before Tuesday's talks, Juvencio said.

"He's an excellent player, a regular in the Brazil team, but Brazilian football doesn't have the financial resources to hire him," added Juvencio.

Rivaldo's agent Carlos Arini said Sao Paulo had failed to make a concrete offer for the 31-year-old striker, who was released by Italian club AC Milan earlier this month.

"They talked about a project but didn't put forward any numbers," he said.

Rivaldo joined Milan from Barcelona after winning the World Cup with Brazil in 2002, but never managed to reproduce the form that made him such a success in Spain.

After a low-key first season, he was left on the bench for the Champions League final against Juventus. This year, he has also been left on the fringes.

Rivaldo recently described the past year as the worst of his career, while Brazilian media have criticised Milan coach Carlo Ancelotti.

However, Rivaldo has kept his place in the Brazil team and scored his team's goal in last month's 1-1 draw away to Peru in a qualifier for the 2006 World Cup.