Andy Scott was not prepared to break Brentford's wage structure to sign Peterborough's Adam Newton.
The Bees boss admitted he was keen on signing the 27-year-old St Kitts international, who has made more than 200 appearances at right-back for Posh.
But he revealed the club could not afford to bring the former West Ham youngster to Griffin Park.
Scott said: "Adam was keen to come here. But we've got a salary cap, and I'm not prepared to break it - or go over the budget - for one player."
For an interview with Andy Scott on his new signing see this week's Chronicle, out on Thursday.