Virtus Bologna president Claudio Sabatini has given up his pursuit of Kobe Bryant, Italian sports daily La Gazzetta dello Sport reports (via Sportando). The demands made by Bryant’s agent, Rob Pelinka, became too high for Sabatini, according to the report.

Sabatini will call a press conference soon to explain why negotiations failed.

Talks between Bryant and Bologna had gone on for weeks, and recent reports said everything from a one-game deal worth $1-2 million, to a 10-game deal worth $3 million were being discussed. (MORE>>>)