The Hoops boss praised the Republic of Ireland international, who is set to leave Birmingham City but was emphatic in his denial that the player could sign for the club
The Republic of Ireland international will leave Birmingham City at the end of his contract, becoming a free-agent on June 1, 2013. A former St Patrick's Athletic player, Fahey trained with Shamrock Rovers while on compassionate leave, but the Hoops boss has quelled talk that the 30-year-old could join the Tallaght club, stressing that he is "above" their budget.
"I talk to him quite regularly, but unfortunately not about signing," Croly told the Irish Times.
"Keith will sign for a Premier League team or a Championship team, he's in the international team so he's above our budget. I'd love to sign him but let's be realistic, he's an Irish international isn't he."
He continued: "He trained with us for a couple of weeks in pre-season to get his fitness up and then went back. He was unfortunate he got injured.
"I haven't spoken to him in a few weeks but I see the papers and he's not staying at Birmingham. He'll get a big club, though; I'm sure he'll have an abundance of offers."
And Croly believes that the midfielder, who joined Birmingham in 2009, would be "more suited" to plying his trade in Germany, suggesting that the player's "ability would shine through."
"He is fantastic," added the Shamrock Rovers boss. "You can see him playing in Germany or somewhere else in Europe; he's probably more suited to Germany actually.
"You might get a bit more time on the ball and his ability would shine through."