Elche sporting director Victor Orta has revealed that the Spanish club have been priced out of a move for experienced Serbian midfielder Milos Krasic.

The 29-year-old, who is widely expected to leave Fenerbahce this summer, said earlier this week that Elche were one of two clubs interested in his services.

However, the La Liga side have now pulled out of the race for the Serbian.

"We made a good offer for Krasic, but Dejan Joksimovic didn't accept it," Orta told gazetevatan.com.

"The costs are too high. The expectations of Fenerbahce are very high and we can't reach an agreement."

Villarreal are now seen as the favourites.