The Montenegro striker struggled to get first-team football during an injury-hit first season at the Etihad Stadium.
But although Jovetic only started two league games as City won the Premier League title, he is expected to stay in Manchester.
Fali Ramadani said:
“Inter after Stevan? I can say that there is nothing at the moment between the Nerazzurri and Jovetic. No contact? I say it again: there is nothing.”
Jovetic, who cost City 22 million pounds last summer, spent much of his debut season in England on the sidelines and was often fourth-choice striker, behind Sergio Aguero, Edin Dzeko and Alvaro Negredo.
City have already pipped Inter to the signing of Arsenal right-back Bacary Sagna, who joined the English club on a free transfer, while the Milan giants have made one signing from Manchester, agreeing to bring in United captain Nemanja Vidic.