The highly-rated defender, who has earned four full Argentina caps, had been closely linked with a move to the Black Cats, but it has emerged he has rejected their offer
Sunderland's bid to sign Velez Sarsfield right-back Gino Peruzzi is on the brink of collapse.
The 21-year-old looked set to move to the Stadium of Light this summer after the two clubs agreed a fee, but his agent has revealed talks are at an impasse after the player rejected the Black Cats' personal terms.
"Simply, Peruzzi did not accept the offer, the rest is all s*** that is thrown around the media," Nazareno Marcollese told Goal.
"It's an economic question; Sunderland made a bid, he requested more and they said no. You see that they are not accustomed to accepting the needs of the workers in England, and here, too, because, from what I have read, now they are talking of leaving him hanging.
"I'm thinking of stepping aside. Gino's not doing well."
Marcollese also defended his role in negotiations, after it was alleged that the deal was being held up by his financial demands.
"[Newspaper] Ole published a claim that I wanted commission, something I categorically deny. We are starting legal action."
Velez vice-president, Julio Baldomar, has revealed his surprise that Peruzzi would snub a move to Europe, but still hopes a deal can be completed.
"It's the first time that something like this has happened to us," Baldomar told TyC Sports.
"This has given us several problems. We got to an arrangement from club to club very fast. We arranged the amount of the transfer and everything was okay between Velez and Sunderland.
"But, suddenly, the player and his agent have said that what has been offered as a contract to Peruzzi isn't enough.
"This situation is something really weird. Usually, when a proposal arrives from Europe, the player is the first person interested in having the transfer done. And, even in this case, when an offer has arrived from English football, the player should be really interested.
"But, if he says that what he would receive isn't enough, we can't do anything about that.
"But it's weird because what the player will receive for the transfer is a lot of money as he will receive 15 per cent of what Sunderland pays to Velez.
"We will see what happens in the next few hours because if Peruzzi finally doesn't get transferred that gives Velez lots of problems."Peruzzi starred as Velez won Argentina's Torneo Inicial by five points, before the western Buenos Aires club slumped to 14th in the Torneo Final, the second half of the domestic season.
Velez beat Final champions Newell's Old Boys 1-0 when the two sides met in the Argentine league final, with Peruzzi coming on as a first-half substitute.