In-demand Fiorentina star Dusan Vlahovic will not be renewing his contract with the club, owner Rocco Commisso has revealed.

Commisso said forward Vlahovic – who is under contract with the Serie A side until 2023 - has received multiple renewal offers to make him the highest-paid player in Fiorentina history, but an agreement has not been reached.

He released a statement on Tuesday to update fans on the failed negotiations, saying he was keeping a promise to be up front with them.

Vlahovic, 21, is one of the most exciting players in Europe after scoring 21 Serie A goals last season.

He ended up staying in Italy during the transfer window despite being strongly linked with Tottenham and Atletico Madrid.

Manchester City, Arsenal, Juventus and Inter are also reportedly interested in Vlahovic, who has gone on to make a fine start to the new campaign with four goals in seven league games.

And it appears his long-term future will not be with Fiorentina.

"When I arrived in Florence, I promised the fans that I would be up front with them and that I would never make promises that I couldn't keep," Commisso said.

"I would therefore like to update the Fiorentina fans on an issue that has been much talked and spoken about in recent months – the question of Dusan Vlahovic's contract.

"As you know, Fiorentina made a very significant offer to the player. Our proposal would have made him the highest paid player in the history of the club.

"We also improved our offer on a number of occasions in order to accommodate the requests of both Dusan and his entourage. However, despite our efforts, those offers have not been accepted.

"During my time in Florence over the past few weeks, I have personally endeavoured to find a solution that would make both the player and the club happy, but I am disappointed to say that our efforts and attempts have not been rewarded."

Commisso added: "At this point, all that we can do is acknowledge the wishes of the player and his entourage and quickly identify feasible, appropriate solutions as we proceed with this exciting new season.

"In any case, Dusan Vlahovic has a contract linking him to Fiorentina for the next 21 months.

"We have no doubt that the player will – as he always has – do his bit to help the team achieve its objectives, showing the same level of professionalism he has shown since he arrived in Florence, with the utmost respect from our fans, his team-mates, the coach and the club as a whole."

Of players aged 22 or under in Europe's top five leagues last season, only Borussia Dortmund sensation Erling Haaland (27) scored more top-flight goals than Vlahovic.

Vlahovic also became the first player born after the year 2000 to reach 20 Serie A goals, while his overall tally of 21 in the top flight during 2021 is the highest total in the league.