Koumas wanted to return to Cardiff on a permanent basis

Bluebirds chairman Sam Hammam says the club has failed to raise the funds to meet West Brom's �2m asking price for the Wales international.

Koumas, 26, had been holding out on a move to Cardiff since the end of his loan spell at Ninian Park last season.

"We are officially halting our interest in signing Jason Koumas in this transfer window out of fairness to all parties involved," said Hammam.

"It is important that we continue to manage our club in a prudent financial manner, thereby ensuring the new stadium scheme can go ahead as planned later this year.

"We were therefore attempting to fund the acquisition of Jason Koumas by the raising of new funds, both from our local business community and in the external market.

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"As this has not yet happened we must today draw a line and let everyone get on with their lives."

Cardiff and West Brom have been haggling over a transfer fee for Koumas since the end of last season.

The Baggies wanted �2m to be paid up front, while Cardiff offered �1m guaranteed, with �500,000 dependent on appearances and another �500,000 dependent on them winning promotion and spending two successive seasons in the Premiership.

Throughout the transfer negotiations, Koumas had refuses to train with the Baggies - a decision which is understood to have cost him around �100,000 in club fines.

But the Wrexham-born playmaker held clear-the-air talks with West Brom manager Bryan Robson this week, and is set to end his strike action.

On Thursday, Cardiff manager Dave Jones said the club was "doing everything possible" to sign Koumas, but admitted their patience was running thin.