Fatih Terim's side emerged as the front-runner to acquire the sought-after Inter playmaker, but the club's vice-president is not convinced the transfer is financially viable.
"If what I'm reading about is correct, the cost of Sneijder is both astronomical and absurd," he told Vatan. "Where will Galatasaray get this money?
"We have analyzed the club's accounts, and are aware that UEFA are monitoring them as well. Who will give us such money, to the point we can spend so much on a single player?
"Each transfer has to be well thought out. However, the amounts I'm hearing are simply blown out of all proportion."
Reports have suggested the Istanbul outfit have met the Nerazzurri's valuation of 10 million euros for the 28-year-old, although the annual wages demanded by the player are believed to be in excess of 5 million euros.
When quizzed on the topic, president Massimo Moratti simply told reporters: "I’m tired of this saga.
"I don't know how this story will end. Wesley will decide freely. He has the opportunity to move and we’ll see if he takes it, otherwise he’ll stay here."