Hernanes was the big transfer of deadline day in Italy.
"The player wanted to leave. What could I do? We could not keep a player who was unhappy here until June," said Lotito.
"Either we change the rules when they want this, or the club will always submit to the will of the players.
"Hernanes had an agreement with Inter and he wanted to go away. I was clear with him. I told him that if he wanted to go, he had to say it."
Lotito added: "It is not like Hernanes had decided already not to renew his contract [expiring in June 2015]. He remains a great person, a great man and I continue to think that.
"There are personal choices and I do not allow myself to make judgements. Lazio, however, are second to none, only second in economic terms."