Striker says refusing City was a major decision...
Having consulted both his club and family over the option of moving to England, the hitman eventually decided it was best for him to remain where is, despite meaning he will be missing out on rich offerings.
"I wanted to thank Birmingham for the offer," he said. "I evaluated the offer and decided to remain at Palermo, a decision I took with my family.
"It was the most important decision of my career. I spoke about it with my wife and then the president. I knew I could have earned €10 million (£8.4m) over four years, so it was a hard decision.
"Speaking with Maurizio Zamparini [the president] was all I needed to stay."
On Wednesday, Zamparini confirmed the player would remain despite a £4.5 million offer from the English club. The aim now is for Miccoli to fully recover following a right knee ligament injury, something the player says is going well.
"My recovery is going really well," he said. "I get in the swimming pool in the morning and then gym in the afternoon. After a month following the operation, everything is going well."