Palermo vice-president Guglielmo Micciche says Federico Balzaretti will be staying in Sicily.
Paris Saint-Germain, Napoli, Lazio and AC Milan have all been linked with the fullback.
Micciche said: "His future? There is a meeting scheduled with Alessandro Moggi, his agent. Palermo intends to extend his contract and the player, for his part, wants to stay with the Rosanero, so therefore shortly we will have the meeting with his agent to evaluate the position with the player."