Giorgio Perinetti claims the Giallorossi have not yet made an approach for the left-back, but refuses to rule out the possibility of the 30-year-old leaving the club
The Giallorossi have been put forward as possible suitors for the left-back after he impressed for Italy at Euro 2012.
Earlier in the month, Palermo vice-president Guglielmo Micciche insisted that the defender was only interested in joining Paris Saint-Germain, but Perinetti has now seemingly opened the door for Roma to make a move for the player.
"If Roma are interested in Balzaretti, then [director] Walter Sabatini must ask for him," Perinetti told Vocegiallorossa.it.
"There has been a meeting with Sabatini, but it was not about Balzaretti.
"There is nothing concrete yet, so we must wait and see how this situation evolves."
Balzaretti, who made four appearances for Italy at the Euros, joined Palermo from Fiorentina in 2008 for an undisclosed fee.