England international Cahill has been the subject of intense speculation this summer, with both Spurs and north London rivals Arsenal linked with a move. However, Spurs manager Harry Redknapp confirmed a move for Cahill has not come to fruition and led Sebastien Bassong's move to QPR to collapse.
Asked whether the Cahill transfer fell through because of the valuation, he said: "Yes, more or less. That was the problem and in the end the deal was just a bit too difficult to do. We would have liked him."
He added: "[QPR manager Neil Warnock] was looking to sign Seb on a loan deal or a semi-permanent deal almost but once Gary Cahill fell through we couldn't let him go."
While Cahill did not arrive, Tottenham did manage to complete the signing of Hammers midfielder Parker for a fee believed to be in the region of £6million. In addition, Spurs managed to keep wantaway midfielder Modric from the grasps of Chelsea despite a £40million bid reportedly coming in.
"The chairman stood firm over Luka," Redknapp told Sky Sports News. "I think £40million was apparently offered yesterday (Tuesday).
"Whether that is true or not, it is what I heard. It is a big offer to turn down, that's for sure. I am delighted the little man is still here and hopefully he will have a great season for us."
Asked whether Modric will be able to get his head straight, Redknapp added: "Yeah, for sure. He has got two international games this week. There's good competition.
"Sandro is getting fit, Scott Parker has arrived, Tom Huddlestone. We've got good players in the middle of the park so we're looking forward to it now."
Such competition saw several players leave White Hart Lane. England striker Peter Crouch and Honduras midfielder Wilson Palacios both joined Stoke, David Bentley joined West Ham on a season-long loan and Jermaine Jenas and Alan Hutton moved to Aston Villa, the former on loan and the latter on a permanent deal.
Source: PA
Source: PA