The Tangerines were told to pay 230,000 Euros (£190,000) to the Argentine outfit in April by FIFA and took their case to CAS, where their appeal was partially upheld.
The 26-year-old striker had a spell at the Tayside club in 2009-10.
A statement from United read: "Dundee United note with disappointment the decision of CAS to only partially uphold our appeal and award 195,000 Euros in respect of training compensation to Velez Sarsfield in respect of Damian Casalinouvo.
"We are encouraged that the original claim has been reduced and will now consider the decision fully before making any further comment."
- Sports & Recreation
- Dundee United