Claudio Ranieri says he would have kept Daniele De Rossi at Roma but the decision was out of his hands.
De Rossi's career-long association with the Giallorossi will conclude at the end of the season as his contract is not being renewed.
Only Francesco Totti has played more games for Roma than De Rossi, who won the World Cup with Italy in 2006.
An off-the-field role to be decided was proposed to the midfielder but De Rossi, who was only informed of the move this week, indicated he wanted to play on.
Ranieri is also bringing his second spell with Roma to a conclusion at the end of the season and the coach suggested the De Rossi decision was taken by club president James Pallotta and his advisor Franco Baldini.
"I don't talk as a director. I am a manager," Ranieri said at a news conference on Thursday.
"If someone told me, you are going to be our manager next season, would you like to confirm De Rossi? I would have said that I want him. I know what kind of player he is, what kind of man and captain he is.
"There are moments of change in every football club, so it can happen. We have already seen that in Italy, teams losing pivotal players.
"However, Daniele is the captain and a historical member of the team. So, they should have told him in another way. Giving him the chance to think carefully. Instead they did not give him this opportunity.
"When our supporters asked me explanations about who decided to not extend De Rossi's contract, I said someone in London [Baldini] and someone in America [Pallotta]. Who is it going to decide? The club, the president and his closest adviser...the man who is living in London.
"Baldini doesn't affect my daily work at all. I don't know what kind of relationship he has with the president. Here, in my work, he doesn't affect me. Generally speaking, I don't know what he does."
However, Ranieri said he did not find it unusual for Roma to be led by an American owner.
"I have to say... I know supporters and you [the media] are saying the owner is far [away] in the USA," Ranieri added. "I did not find many owners close to the club in my career, I mean every day with the squad.
"Now I have seen more times Leicester's owner than when I was Leicester's manager. Maybe I am the one who met up more times with [Roman] Abramovich in comparison with all the other Chelsea managers.
"I think [Carlo] Ancelotti met him just a few times. I think [Maurizio] Sarri has never met him. So, there are different situations. You have a team and you work on the pitch with it. It is not important what it is around. The most important thing is that the squad is doing well.
"It's important that if you have a problem someone will fix it. This is the most important thing for a football manager. All the rest doesn't matter. So, it's not important to have the president close to the club, it is important that everything works."
Roma are away to Sassuolo on Saturday needing a win to boost their hopes of Champions League qualification.