Bendtner is locked in talks with a host of clubs, as he is set to leave Arsenal this summer.
The 25-year-old Denmark international had looked close to a deal with Frankfurt but the German media has reported that a deal is looking increasingly unlikely.
Frankfurt chief Heribert Bruchhagen told Die Welt: "Chances are slim that Nicklas Bendtner will be joining us.
"He is simply in a different salary class and even if we would be able to pay those wages, he cannot deceive our key players.
"We would just able to afford a Nicklas Bendtner salary inside our wages budget. I would think it is definitely unrealistic to believe Arsenal FC could be out to heavily subsidize this deal."