The 28-year-old striker is the club captain at Torino but his current contract expires at the end of the season.
There is no agreement over a new deal and there are claims that the forward is looking forward to leaving Torino on a free transfer in the summer.
Cairo wants to keep him but his attempts to convince Belotti to sign a new deal are yet to deliver any results.
West Ham are amongst the clubs who are waiting for the Italy striker to make a decision over his future.
The Torino president refused to add more noise to speculation surrounding Belotti and his future but stressed that watching him leave the club would be a tragedy.
Asked about Belotti’s future, Cairo told Italian outlet Tutto Mercato: “There has been a lot of talk, it’s better we don’t talk about it and see what happens differently to what I expect.
“I hope so [that he stays].
“God forbid: he has been with us for seven years, he has scored 100 goals [113], he is the second-best goalscorer in Torino’s history and no one will be happy if he is no longer with us.
“Now we don’t talk about it anymore, maybe after not talking about it, something happens.”
Belotti has scored eight times in 19 appearances for Torino in a season where he has struggled with injuries.
