Former Fiorentina man Cerci scored 13 goals for the Turin side as they finished seventh in Serie A last season.
Milan are reported to be eager to take Cerci to San Siro, but Cairo revealed that they are not the only club interested in him and the Torino supremo hopes the opportunity to play in the UEFA Europa League will keep him at Stadio Olimpico.
Cairo said: "Cerci? It's not just Milan who are interested, but other teams too.
"I still need to find out what the player's intentions are.
"We want to see whether there is a possibility of reaching an agreement with him or whether he is aiming for bigger clubs.
"We are playing in Europe next season, Milan are not."