The Italian has been appointed by Fiorentina just months after returning to Tottenham following a lengthy FIFA ban for his role in Juventus' capital gains scandal.
Speaking at his presentation today, Paratici began: "I would like to take this opportunity to thank President Commisso and Ferrari for choosing me. I thank the entire Commisso family and congratulate Giuseppe on his new role.
"I also thank Tottenham Hotspur for giving me this opportunity to enjoy five wonderful years in the Premier League, waiting for me during difficult times."
He also stated: "I chose Fiorentina on December 15-16. Fiorentina had six points, (Alessandro) Ferrari met with me, and I came. It was a brave choice, because I considered various reasons. In my case, I thought that the Viola have a very serious ownership, world-class infrastructure, a group of people with whom I immediately felt a connection, and a city that is an international brand and that gives us great advantages in terms of visibility.
"It was the right time to return to Italy; it's a great challenge, but I think Fiorentina deserves a higher level, even if today we have to accept that for the next four months we'll have to put our heads down and suffer."
Asked if his deal carries an escape clause if Fiorentina are relegated, Paratici added, "It's almost superfluous to answer. Of course it doesn't. I signed for four and a half years at a time when the club had six points.
"There's no release clause."