The midfielder has been linked with a move away in recent weeks.
"The idea that he could be offered to another club in a player plus cash deal is just a rumour," Andrea D'Amico told Sport Italia.
"Giovinco was strongly wanted by boss Antonio Conte. Any decision made by the club will be made in agreement with the Coach.
"Offering him in exchange for another player would go against the wishes of Conte who wanted him and who considers him as an important element."