Palermo are ready to sell Salvatore Sirigu if his new wage demands are viewed as excessive by the Sicilian club.
The goalkeeper has been in talks with the outfit about an improved deal, but agreeing terms is proving difficult.
"I spoke to the goalkeeper after the Coppa Italia Final," President Maurizio Zamparini told La Gazzetta dello Sport.
"I offered him an increase of €250,000 a season [after tax] which would see his wages doubled. That could have also eventually risen to €550,000.
"He told me that he would be happy to stay and that is why I freed Jean-Francois Gillet after I had already lined him up from Bari.
"But if he now wants €1m a campaign then he can leave."
The Italian international, contracted until 2014, is understood to have turned down Palermo's first offer of fresh terms.
That has alerted the attention of Genoa, as well as a number of clubs in Spain and Germany.