Moratti said: "I can't hide the fact that Recoba is a player who I have great affection for. However, I don't know whether it would be best for him to stay here and hardly play or join another club, play well and help them win.
"I would obviously be happy to see him play all of the time, but I can't obligate anyone to do that seeing as I have no right to."
Paraguayan international midfielder Carlos Paredes is also being linked with a move to the Reebok Stadium.
Paredes, is also attracting attention from elsewhere despite a dispute over when his contract with Serie A side Reggina expires.
Meanwhile, former Wanderer's coach Neil McDonald has been appointed manager of Carlisle United who currently play in League One.