England international Cahill has been the subject of rife 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 did not come to fruition and led Sebastian Bassong's QPR move to collapse.
Asked whether the Cahill transfer fell through because of the valuation, he said: "Yeah, 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.
"[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.
"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.
Honduras midfielder Wilson Palacios joined Stoke, with the transfer of England international Peter Crouch to the Potters also expected to be confirmed.
David Bentley joined West Ham on a season-long loan, while Jermaine Jenas and Alan Hutton both joined Aston Villa.
"They're all good lads," added Redknapp. "People like Crouchy and Wilson Palacios have been fantastic but it is difficult.
"You've only got 25 players in your squad and we had 29 this morning, which is too many. You can't name them all.
"We were going to have three, maybe four players that weren't going to be able to play because of the 25-man squad you have to name by the end of the week.
"We had to clear a few out but it was difficult. They are all good players that have gone and will all do well.
"Alan Hutton, you know, and David Bentley I am sure will do well at West Ham."
The Nike Hypervenom is the latest cleat silo from Nike. It will change your game and is worn by the game's top players.
Jamaica is in need of a win against the U.S. Get the jersey of the Reggae Boyz.
Barcelona will wear this new home soccer jersey next season. They also have a new away jersey. Get them both.
Manchester City will try and win back the Premier League title with this new soccer jersey from Nike!
The USA will wear their blue away jersey against Jamaica in their World Cup qualifier on Friday night.
The hoop soccer jersey is classic and cool. The USA hooped jersey is perfect for every fan. Get in the Gear.
The adidas Nitrocharge is the most talked about new cleat in years. It was released on May 15 and will take your pitch by storm.
England will debut their new away jersey against Brazil at the Maracana Stadium on Sunday. Get in the Gear
Germany is one of the top teams ever and they will play the US on Sunday.
Support the USA national team with an official 2013 Centennial soccer jersey from Nike. Its Official.