Collingwood put a contract in front of Short but could not reach terms on a trade, with the plug pulled ahead of the window closing at 7.30pm AEDT on Wednesday.
Magpies list boss list boss Justin Leppitsch said Richmond's demands were not unreasonable but could not be satisfied.
"It just couldn't be done - a little bit on our end probably as well," he told reporters.
"Not going into too much specifics. I feel for Jayden a bit because he's the one who misses out on this as well."
Despite speculation swirling, Leppitsch said no club contacted Collingwood to talk about trading for defender Dan Houston or midfielder-forward Jordan De Goey.
"Not one conversation. I know you all think I'm lying, but it's not true," he said.
St Kilda football manager Lenny Hayes acknowledged the Saints were linked to the Collingwood duo, but insisted it never got to a "serious stage".
After trading away Rowan Marshall to Geelong and bringing in Brisbane's Sam Marshall, the Saints are looking to extend Nasiah Wanganeen-Milera before he comes off contract at the end of 2027.
"We're really comfortable with where those (extension) discussions are at the moment," Hayes said.
"I'm not going to put a timeline on that, and probably Max Hall's the other one for us. They're obviously priorities for us going forward."
Richmond earlier settled another trade with Port Adelaide, which gives them a second top-five pick in this year's AFL draft.
The Power parted with pick No.5 in return for Richmond's No.22 pick, along with their first-, second- and fourth-round picks in 2027.
The swap gives Port more points to cover expected early bids in next year's draft for 2027 prospects Zemes Pilot and Louis Salopek.
Richmond, who already hold pick No.2 after finishing second last, get a shot at a second high pick in the last draft before Tasmania join the competition in 2028.
Brisbane and GWS also completed a swap of picks, with the Lions receiving No.25 and 28 in return for No.20 and No.59.
It gives the Lions more points to match a potential top-10 draft bid for academy product Caylen Murray.
North Melbourne, meanwhile, beefed up their offer to Adelaide for young defender Nick Murray.
The Kangaroos have already bolstered their defence, landing disgruntled Sydney star Nick Blakey in the club's biggest trade coup of this century.
In another high-profile move on Tuesday, GWS veteran Lachie Whitfield has also headed south to Carlton for draft capital.
Blakey and Whitfield joined Butters, Toby Greene (GWS to Geelong), Lachie Neale (Brisbane to Collingwood), Zach Merrett (Essendon to Hawthorn), Ben King (Gold Coast to Hawthorn) and Marshall (St Kilda to Geelong) as this year's headlining free-agency and trade moves.
Clubs appear to have taken heed from last year's frantic deadline-day scenes, when Merrett and Marshall were left high and dry following unsuccessful trade tilts.
Plenty of lesser-known players are hoping they don't fall into that camp in 2026.
Essendon have been pursuing Brisbane's Coleman after the injury-prone Lion requested a trade to the Bombers.
Coleman has managed just 15 senior games in the past three seasons after starring in Brisbane's narrow 2023 grand final loss to Collingwood.
The Bombers - who on Wednesday appointed former CEO Craig Vozzo as football operations boss - have baulked at giving up either pick No.17 or No.21 for the 26-year-old after offering pick No.27.
West Coast still have eyes on Melbourne's former captain Viney and defender Rivers, a Perth native.
Brisbane's Will McLachlan wants to get to Melbourne, Luke Pedlar is seeking a rare trade from Adelaide to Port Adelaide, and North's Josh Goater is pushing for a move to Hawthorn.
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