Football Federation Australia rejected Victory’s bid for 33-year-old left footed attacker Diamanti, according to the Daily Telegraph.

The guest marquee rule opens the door for A-League clubs to sign high profile players for an entire season outside the salary cap.

Diamanti is currently on loan to Serie A side Atalanta from Chinese giants Guangzhou Evergrande but it is understood he does not meet FFA's profile demands.

But the Italian is certainly well known to fans of the A-League outfit.

In February 2014 he fired in two stunning goals on debut for Evergrande to spearhead a come-from-behind 4-2 triumph over Victory in the ACL.

The FFA has set aside $1m to assist clubs attract big names to the league but as yet only Melbourne City has taken advantage.

Among the players drawn into negotations is Brazilian star Ronaldinho, 36, who has not played a competitive match in almost a year.