BUENOS AIRES, April 1 (Xinhua) -- Boca Juniors president Jorge Amor Ameal has ruled out signing Uruguayan striker Edinson Cavani for financial reasons.

Cavani's contract with Paris Saint-Germain expires on June 30 and the 33-year-old is now free to join any club as a free agent.

"We are proud that a player like Cavani says he wants to wear our shirt, but our economic reality doesn't match with his," Ameal told Argentina's Radio Splendid on Wednesday.

He added that the club had recently hoped to sign Peru international captain Paolo Guerrero but could not meet former Bayern Munich striker's wage demands.

"We have to think more about our existing players and believe in them," Ameal said. "Of course no one is going to argue that Cavani is a great player."

Boca Juniors claimed their 34th Argentinian first division title last month after a late strike from Carlos Tevez gave them a 1-0 victory over Gimnasia on the final weekend of the season.