The Rossoneri were among those to express an interest in the Italy international striker as they embarked on an elaborate summer recruitment drive.
Belotti’s €100 million release clause was widely reported throughout the window, but that only applied to foreign interest and could not be triggered by Milan.
As they sought to find a way around that issue, those at the San Siro endeavoured to use Torino’s interest in Niang as a bargaining chip, but negotiations soon broke down as it became clear that no agreement would be reached.
Club director Gianluca Petrachi said on the Torino Channel: “It was a bit of a soap opera.
“He [Niang] always wanted to join us, partly because of the bond he has with Sinisa Mihajlovic, and he even turned down an offer from Sampdoria.
“[President Urbano] Cairo gave me the all-clear to negotiate with the Rossoneri, but they tried to use Niang as part of their bid for Belotti. The offer was unsuitable.
“I was the one who insisted on keeping the two issues separate. We are trying to build a stronger Torino and selling Belotti for €50-60m would not have achieved that.
“We want Belotti to be paid for what he is worth. If the lad wants to challenge himself at Champions League clubs, then we can talk about that in future.”
He has also found the target three times in as many games in 2017-18, with the speculation surrounding his future appearing to have had little impact on his focus.