Kalimuendo spent the second half of last season on loan at Frankfurt, scoring six goals in 19 Bundesliga appearances after arriving in January following a difficult start to his Nottingham Forest career.
The Bundesliga club held a reported €27m option to sign him permanently but chose not to activate it, instead hoping to renegotiate a lower fee, only for the forward to catch the eye of new Forest head coach Oliver Glasner during pre-season.
Eintracht Frankfurt remained interested heading into deadline day, but the deal collapsed and Kalimuendo stayed on the banks of the Trent.
Bild reported that Hutter directly blamed Marinakis for preventing a deadline-day move.
"We tried everything. But it didn't work because of the other side," the Frankfurt boss said.
He added that his side would adapt without the Frenchman.
"We'll stay the way we are. And I'm happy with that. As long as they're fit, I want to let the lads up front run. We're sticking with that for now because it's worked well in many games."
Glasner explained last month why he was determined to keep hold of the 24-year-old, who joined Forest from Rennes for £26m last summer.
"I think he showed why Nottingham Forest signed him one year ago and paid a few sterling for him. He showed his quality, he showed his understanding of the game, he showed his goal threat. He scored three goals in pre-season," the Forest boss said.
"In this system, he can play in three — and maybe even as wing-back if we need an attacking one — and maybe five positions. He's very hard-working, good pace, good runs and always a goal threat. With these attributes, it would just be nonsense if we don't rely on these attributes."
Kalimuendo made just nine Premier League appearances during his first season in England following his move from Ligue 1, struggling to establish himself before his loan to Germany reinvigorated his form.
His performances at Frankfurt, including goals against Werder Bremen, Hoffenheim and Bayern Munich, had strengthened the German club's case for a permanent deal, but Forest's decision to retain him leaves Frankfurt searching elsewhere for attacking reinforcements this season.