The 39-year-old’s current contract expires this summer and has yet to reach an agreement with the Serie A club.
Pallotta is keen for Totti, who has been at Roma since joining their youth team in 1989, to remain at the club as part of the backroom team, but claims the midfielder wants to continue his playing career.
“The situation with Francesco is really hard,” said Pallotta.
“I’d like him to become part of the management, but he’d prefer to continue playing. The captain said he was interested in going to play in Miami, but they don’t [yet] have a team in MLS.
“He could be interested in moving to New York though.”