The Aussie eventually announced that he'll be driving for Renault from 2019 onwards during this summer break, causing massive shock in the F1 community, as Red Bull had laid an offer on the table as well.
Ricciardo had spent five years at Red Bull and ten years in total in the Red Bull 'family', dating back before he ever got to Formula 1.
When asked by Automoto if his move to Ferrari was shut down because of his financial demands, the 29-year-old was quick to shut that down.
"I can't say why," he responded.
"I don't know what you're talking about. Who said I'd asked for too much money? Evidently, someone said no to my arrival.
"Who? I'd like to know, but maybe I have an idea."
Ricciardo then revealed that when he was in talks with Ferrari, they were already in advanced negotiations with Charles Leclerc, meaning that his talks fell through with the 21-year-old being favoured over him.
"We had discussions, but you could see that they had already made arrangements with Leclerc, so my talks fell through.
"I hope for them that it's the right choice and that it works out well.
"As far as I'm concerned, I hope to still be in F1 for some time and maybe there will be an opportunity to meet again."