Fiorentina warned they will “only sell Adem Ljajic to a club that behaves correctly with us and within the sporting rules.”
The Viola had already released a statement earlier this month blasting Milan for what they claimed was an illegal approach towards their player.
Ljajic’s contract expires in June 2014 and he has been given until Tuesday morning to accept a renewal or be sold.
“If Adem does want to go, we’ll only sell him to a club that behaves correctly with us and within the sporting rules, which means speaking to the club before the player,” general manager Sandro Mencucci told the Gazzetta dello Sport.
“He will not remain here without signing a renewal, as that would not be right. We offered him an excellent contract. If he considers it to be adequate, then that’s fine. If not, he will leave.
“Whatever happens, it will be a success for Fiorentina. If he remains, and I am optimistic he will, then we’ll have a strong team. If he goes, then we will sell for a suitable price, as there are many teams tracking Ljajic.
“Everyone has spoken to the player and there’s no need to say anything else. The final decision is only down to Adem.”
While Milan have been most consistently linked with the Serbia international, other clubs interested include Roma, Tottenham, Southampton and Atletico Madrid.
Think you know your Italian football? Share your knowledge, tips and comments to win cash prizes in OLBG's World Cup tipster competition  - £10,000 to be won!