Ukrainian side Dnipro have reportedly offered £6m - the price that Rovers paid Jajduk Split for him two years ago - for the 23-year-old.
While the club's owners Venky's appear to be holding out for a larger bid, Erceg believes that Kalinic will not play for Rovers again.
Erceg said: "We have our fingers crossed something will happen in the next couple of days but we just don't know. It has gone on a for a long time and nothing has been sorted."
Kalinic is currently at home in Croatia rather than with his teammates in the Far East, where yesterday they lost 1-0 to Aston Villa in the Barclay's Asia Trophy.
"Nikola just wants to play football. It is a crazy situation because it looks impossible for him to play football at Blackburn," Erceg added.
Kalinic scored six goals in 20 appearances for Rovers last season.