The former Sydney FC defender and Grand Final man-of-the-match had jetted out to South Korea shortly after Saturday's match with a view to completing a deal.

However, the necessary paperwork was not completed ahead of the transfer deadline and Colosimo must now look elsewhere for action as he bids to press his claim for a spot in Pim Verbeek's World Cup squad.

Earlier this week Sydney FC CEO Edwin Lugt hailed the player's impact, both on and off the pitch and wished him well in his World Cup quest.

"Simon is a complete professional on and off the pitch. His loyalty to the club and commitment to winning has been immense," Lugt said.

"He is mentally very tough which is so important and overall he is a club man. He fulfilled his duties off the pitch as admirably as he did on it.

"We hope he fulfills his dream of making the World Cup. He thoroughly deserves it. He will always be welcome at Sydney FC, either as a player or a friend."