Benito Carbone is set to return to Valley Parade when his loan at Derby runs out next week.
The Italian striker has ten more days of his three-month stay with the Rams to run and it was expected the Premiership strugglers would then push to clinch a permanent deal.
But it is understood that the Derby board could put the block on Colin Todd's plans to bring him in.
Results have not improved since Carbone went to Pride Park, and following Sunday's humiliating FA Cup home defeat to Third Division Bristol Rovers, fears are mounting that Derby will not beat the drop.
With the growing prospect of a return to the Nationwide League, high earners like Georgi Kinkladze and Carbone may be jettisoned in a belt-tightening policy.
A source close to the club said: "You're talking about £5m to take over the rest of Carbone's contract.
"If we do that and go down, then we will be in Bradford City's position this time next year.
"He's done all right but he's played 14 games and scored one goal - for £40,000 a week you want guarantees of more than that."
Carbone has only one game to press his Derby claims.
He is suspended on Saturday following his recent red card at West Ham.
That leaves him the basement battle against Ipswich on January 19, the final day of his loan, to prove he is worth keeping.
City boss Nicky Law would love to have the Italian available for the weekend as he faces up to a potential selection nightmare against Portsmouth.
Robbie Blake and Robert Molenaar were both injured in last night's bitterly-disappointing 2-0 FA Cup defeat at Walsall while Andy Myers missed the game with a bruised foot.
And with Stuart McCall and Ashley Ward both banned for Saturday, resources are at breaking point.
Law plans to plunge into the loan market, with a tough-tackling midfielder the top priority. But his attacking options could also be threadbare if Blake fails to recover from a pulled groin.
Law said: "With Carl Muggleton on loan, only one can come in.
"But I'll have to ask about the possibility of bringing other players in - we've only got a small squad anyway and it definitely needs beefing up.
"I'll probably look for something in midfield.
"If you take Stuart McCall out the equation there isn't really any bite in there."
City were given a rough ride by their own fans at the Bescot Stadium as the FA Cup bid again stumbled at the first hurdle.
Law said: "It's frustrating for supporters. They've travelled a long way and paid their money and are entitled to their opinion.
"We've all got to stick together and some of the comments weren't really positive.
"They aren't really going to help but it's their decision.
"But I was very disappointed with the performance.
"Certainly I don't really feel we competed enough in the game and we weren't sharp enough."
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article