The managing director of the Lombardy based club has given up on his "dream" of signing the Swede at the end of his spell in Milan
Adriano Galliani believes Monza's chances of signing Zlatan Ibrahimovic this summer are now all but over due to the coronavirus outbreak.
Ibrahimovic decided to return to Europe after ending his time in MLS with the LA Galaxy in November, publicly stating that he still had the quality to play at the highest level.
The 38-year-old was linked to a number of top clubs, but ultimately opted to return to Milan for a second spell, putting pen to paper on a six-month contract.
The former Sweden international played a key role in the Rossoneri's run to Serie A glory while on loan at San Siro in 2010-11, earning a permanent contract in the process, before being snapped up by Paris Saint-Germain the following year.
Milan are no longer the force they were back then, but Ibrahimovic has still managed to roll back the years on an individual level, netting four goals in ten appearances since January.
Monza chairman Galliani publicly admitted that he attempted to lure the mercurial centre-forward to Lombardy prior to his homecoming in the Italian capital, and he still held faint hope of securing a deal at the end of the current season.
Ibrahimovic will become a free agent on June 30, but Galliani cannot see a transfer going through after the devastation caused by the Covid-19 outbreak in the northern region of Italy.
The Monza chief told Corriere Della Sera: "Let's put a gravestone on the Ibra dream. His failed arrival is among the side effects of coronavirus.
"In light of the global crisis and the uncertainty about the dates of the resumption of this championship and the start of the next one, the project fades."
Italy has been the worst-affected country in Europe by the coronavirus pandemic, with 97,689 confirmed cases and 10,779 deaths recorded to date.
Serie A has been postponed indefinitely as the fight to contain the spread of the illness rages on, amid a government lockdown which has forced all citizens to self-isolate in their homes.
Italian football federation president Gabriele Gravina has stated that he is hopeful the season can resume by May 2, but at the moment it is unclear whether it will be safe for players and staff to resume duties at clubs across the country.