Genoa is set to pull out of the race to sign the Inter forward, who is on the verge of a switch to the Ennio Tardini
The Italy international had been linked with a move to the Luigi Ferraris but the club's supremo has given up hope of signing him.
"Cassano appeals to all lovers of football, but the deal between Inter at Parma is at an advanced stage," he told Sky Sport.
"So we are pulling out. Our inclusion isn't very logical."
The 30-year-old moved to Inter from AC Milan last summer and has one year left on his contract at San Siro.
The former Roma and Real Madrid man scored nine goals and set up 15 others in his 39 appearances last term.