The 27-year-old has been virtually ever-present in the Crociati starting XI since his arrival from Boca Juniors in 2010.
But with reports that the Rossoneri are keen on bringing the Argentine to San Siro, the board member has hit back.
“Whoever wants to sign Paletta has to pay €35m (£30.2m),” he told reporters. “There are no negotiations about that.”
Leonardi then commented on Jonathan Biabiany's potential departure from the club.
“Parma are not in the habit of selling its best players. And Biabiany is one of Parma's best players.”
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