Robinho's desired return to Brazilian club Santos has fallen through, and so the 29-year-old will play for AC Milan again this season.
Robinho’s inability to agree a deal with his hometown club will come as a blow to the Rossoneri, who had hoped to free his wages and bid for either Fiorentina forward Adem Ljajic or Juventus' Italian international Alessandro Matri.
"Robinho will wear Milan's shirt once again next season," Milan vice-president Adriano Galliani announced.
"He never asked to be sold, but only to return home to Santos.
"No financial agreement was reached so Robinho is delighted to be staying with us here in Milan."
Meanwhile, Milan still hope to call Japanese international attacking midfielder Keisuke Honda their own someday.
But Galliani says they will not buy him from CSKA Moscow now, and will wait until January when they can take him as a Bosman signing instead.
"We hope Honda will join us in January," Galliani said.
"It's not planned on signing him now."