The 21-year-old forward has been heavily linked with a move away from Fiorentina and to the Premier League in the ongoing transfer window.
Leicester are pushing to get a deal over the line to sign the Argentine and are said to have tabled a bid worth €34m to take him to the King Power Stadium this month.
Antognoni, a Fiorentina legend, conceded that if the club receive such massive offers for a player such as Gonzalez they have to consider letting the player go given the amount being talked about.
He admitted that the forward is one of their best players and selling a top star in the middle of the season can often be a risk.
But the Italian pointed out the big money on offer and the need for Fiorentina to consider the financial implications.
Antognoni said on Radio FirenzeVola: “Faced with such offers, it’s right to think about it.
“He is an important player for Fiorentina, also considering the amount, you have to think about it.
“But January offers always seem a bit risky to me.
“Selling the best players is always negative.”
It remains to be seen whether Leicester can manage to get a deal over the line and sign Gonzalez this month.