Viola co-owner Andrea Della Valle has warned clubs that they must stump up big money if they are to sign the Montenegrin forward.
Juventus had been linked with the Montenegrin forward as the club bids to bolster its attacking options ahead of the new season.
But following the arrivals of Fernando Llorente and Carlos Tevez, Bianconeri general director Beppe Marotta revealed that the club had called off its pursuit of Jovetic due to the poor relations between the two sides.
Now Della Valle has made it clear that his club could only be tempted into selling the 23-year-old for a huge transfer fee.
"Give us 30 million euros or nothing," he told Sport Mediaset.
"We need to understand if they have the money or not. We do not accept exchanges. We won't go down from our 30 million euro demand and won't wait much longer."
The Viola have brought in Mario Gomez from Bayern Munich for a fee of 6 million euros on Monday, and Della Valle hinted that Gomez's signing was not made to replace Jovetic, but complement him.
"It was important and the negotiations were difficult," he added. "Gomez is the missing piece in Vincenzo Montella's team."