Palacio on his way to Inter
"Palacio was one of the players that asked us at the end of the season to be transferred," Preziosi said to Sky Italia. "We have already reached an agreement with Inter.
"Inter tried to acquire him in the past two years. This deal has been a good transaction for both clubs as well as for the player, whose wages have doubled."
Palacio, 30, came close to joining Inter last year but Genoa turned down all bids for the former Boca Juniors player. The Argentinian, who scored 19 goals in 32 league games this season, is under contract with I Grifoni for a further two years.