Cook and the City delegation flew home from Milan last night having failed to land the former world player of the year from AC Milan.

City feel Milan simply 'bottled it,' becoming suddenly aware of the scale of unrest the decision would cause among the Rossoneri.

Cook claimed: "We truly believe Kaka is a humanitarian of the highest order.

"We would have put resources there to help build his foundation and send a message to global football about what great players can do.

"Kaka has the capability to be the next global ambassador for the game.

"But his father (Bosco Leite) just wanted an offer. He did not want to sit and talk about the rest of the stuff.

"He used the term 'it is not just about money'. It's ironic that it was."

The presence of three City lawyers at the talks surrounding the Brazilian's future emphasised the complexity of what was being proposed.

Cook estimates Kaka has 20 personal sponsorship deals, all tied in to his commitment to AC Milan. City knew, if agreement could be reached with the player and his club, those individual deals would all require negotiation.

Either the transfer just became too complicated or Leite was not prepared for the groundwork Cook and his team had done.

Cook explained: "It was just too sophisticated. Bosco does not have a lawyer so when we asked whether we could see the contracts to know what we were dealing with, he just said 'show me the offer'. It was very frustrating."

It could be argued Cook got his strategy wrong, having also missed out on Ronaldinho last summer following an equally protracted courtship,

However, he said: "I look at myself. I look in the mirror and say 'is it us?'.

"I truly believe that as a business with a core of football, our owners and investors would expect us, when that level of investment is applied, to have a good business case.

"Over the five-year period, if everything went well, we would show a return on the investment and satisfy the needs of the fans, financial community and employees.

"It was all coming together but when we got down to it, the father just wanted to know how much we were going to pay him."

Cook added: "Milan bottled it. They lost their nerve. They had agreed to sell their prize possession and we had agreed to buy him."

Despite the rejection, Cook insists City have moved forward as a club just by getting round a table with an institution like Milan to discuss the potential purchase of one of the best players in the world.

"We are undeterred," he said. "We will keep plugging on. This club has been around a long time and my job is to keep putting us at the table.

"Maybe we are not quite ready yet. But I truly believe we are going on a journey.

"It is a shame because if the player had been able to come with us that journey may have been accelerated by a couple of years. But it doesn't deter us from what we are trying to do.

"If we don't get Kaka it is not the end of the world. We got Craig Bellamy."

Meanwhile, Milan vice-president Adriano Galliani was understandably pleased the player rejected an offer to almost double his wages.

He said: "The heart has prevailed against reason - yet again we have to thank (owner, Silvio) Berlusconi.

"The financial sacrifice has fallen on him as he has made a huge act of love for this club.

"It was a strong temptation, a stratospheric world-record sum."

"We have turned down a huge sum, that in any case would have been used to make other signings. Had Kaka left, we would have brought to Milan other champions.

"Kaka didn't even want to wait for the final offer which would have been much higher than what he currently gets at Milan, almost double.

"Without Kaka, it would have been another Milan. We have simply grown accustomed to his magic.

"He has something special and he is a great example for youngsters."

AC Milan coach Carlo Ancelotti added: "I am truly delighted.

"With this decision, we have had further demonstration that Milan is a special club.

"It's a family, where everyone is well and no one wants to leave.

"The fans were fantastic, they made Kaka understand how important he is for Milan.

"The show of affection at the San Siro on Saturday night was touching.

"Those are things you don't forget.

"When you feel the love of the people and if you have a heart, and Kaka has a big one, you obviously take that into account."