Benito Carbone's move to Derby was torpedoed by one result.
City chairman Geoffrey Richmond believes the Italian striker would have joined the Premiership side - if they hadn't lost at home to Fulham.
Carbone is coming to terms with life back at Valley Parade and Richmond is anticipating further loan inquiries from top-flight clubs.
He said: "You need to let him get his bearings, it's been a difficult time for Beni. I think it would be very hard to blame him for wanting to play in the Premiership because that's where he should be.
"Naturally it must be a big disappointment in his mind not having secured his move to Derby. That all hinged on one game when the wheels fell off at home to Fulham.
"Derby had just won away at Blackburn which was a great result and if they had beaten Fulham they would have been third from bottom but level with another two clubs and within two points of four others.
"Instead, they lost 1-0 to an own goal and the crisis then happened with the humiliating defeat at home to Bristol Rovers in the FA Cup. There was an amazingly quick change of mood in the Derby boardroom - Beni didn't get his contract and poor Colin Todd lost his job.
"But Beni is a pro from the top of his head to his toes and he's been great since his return here on Monday. I'm totally sure he will continue to be because his make-up wouldn't allow anything else."
Carbone played for an hour for the reserves at Middlesbrough - and has to convince boss Nicky Law he is worthy of a senior recall against Preston on Tuesday.
Law said: "I hear he wants to play in the Premiership but there's only one person who can do that for him and that's himself.
"Not many teams are going to be over-impressed with his performance at Billingham. Nobody wants to be out there but it's your job and we all have to do things we don't want to at times.
"You just have to get on with it. Stuart McCall is a good example - he has played 800 games but still showed the right enthusiasm and workrate, the same as in training."
Richmond admitted there has been "total silence out in the market place" since Carbone's return.
But he added: "We're coming up towards the last three months of the Premiership season and it wouldn't surprise me at all if one of a number of clubs didn't come in for him at least for a loan.
"There are very few players of Beni's quality who would be available on such a basis. And we would be happy to listen if we were convinced it was with a serious view to making it permanent."
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