Vlahovic has been a prime target for most European top clubs with Arsenal joining in the last minute.
Fiorentina, are not ready to lose the Serbian who has just 21 months left on his current contract on a free transfer has tried several means to tie him down with a new deal.
And Vlahovic, not willing to put pen to paper, Commisso believes is time the club part ways with the striker.
"When I arrived in Florence, I promised the fans that I would be up front with them and that I would never make promises that I couldn’t keep," Commisso shared in an official club statement on Tuesday morning.
"I would therefore like to update the Fiorentina fans on an issue that has been much talked and spoken about in recent months – the question of Dusan Vlahovic’s contract.
"As you know, Fiorentina made a very significant offer to the player. Our proposal would have made him the highest paid player in the history of the club.
"We also improved our offer on a number of occasions in order to accommodate the requests of both Dusan and his entourage. However, despite our efforts, those offers have not been accepted.
"During my time in Florence over the past few weeks, I have personally endeavoured to find a solution that would make both the player and the club happy, but I am disappointed to say that our efforts and attempts have not been rewarded.
"At this point, all that we can do is acknowledge the wishes of the player and his entourage and quickly identify feasible, appropriate solutions as we proceed with this exciting new season.
"In any case, Dusan Vlahovic has a contract linking him to Fiorentina for the next 21 months. We have no doubt that the player will – as he always has – do his bit to help the team achieve its objectives, showing the same level of professionalism he has shown since he arrived in Florence, with the utmost respect from our fans, his team-mates, the coach and the club as a whole."