Newcastle United made four new signings in January.
Ronaldinho is currently without a club, but he is said to be holding out for mega-money, before making his next move.
The 35-year-old reportedly wants a contract worth £6 million a year, and Newcastle simply were not interested in paying such large wages for a player who has never played in England before.
In his prime Ronaldinho was considered one of the most talented players in the history of the game, and he has gone down in Barcelona folklore.
However, more recently, Ronaldinho has been playing in his native Brazil, and he has also had a spell in Mexico with Queretaro.
Newcastle did invest in the January transfer window, despite rejecting the chance to sign Ronaldinho.
The Magpies brought in Henri Saivet, Jonjo Shelvey, Seydou Doumbia and Andros Townsend last month, with Steve McClaren increasing his options at St. James’ Park.