Italian club Fiorentina voiced their interest in the 21 year old frontman earlier this month to prompt speculation he could return to his homeland.
"Fabio feels depressed after the last injury. This is an unfortunate season for him," Marco De Marchi told Radio Toscana.
On Fiorentina's interest De Marchi added: "I don't know anything more than what I have read in newspapers. I am certainly glad to see that Fiorentina are building something important. But Fabio is happy to be at one of the most prestigious clubs in the world."
Borini came to England as a teenager with Chelsea and De Marchi is adamant he is not feeling nostalgic about Italy.
He said: "No, because he has been in England since he was 16 and he is very tied to this nation."