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The Sky Blues' 2013-14 campaign came to an end when they lost 2-1 to Melbourne Victory in the first A-League elimination final on Friday night.
Marquee international and club captain Del Piero is out of contract, and it's not known whether the 39-year-old will seek to remain in the Harbour City for a third season, although he appeared to express his interest in doing so in a television interview given after the defeat at Etihad Stadium.
"Well that we don't know yet," Farina said when asked about the likelihood of Del Piero extending his Sydney stay.
"That's something (we'll wait on) out of respect for what Alessandro wants to do. He's been fantastic for Australian football both on the field and off the field. And for Sydney. As a city and as a club. He's been wonderful, but we've got to respect and see what he wants to do.
"The football club will always move forward, irrespective of whether one player stays or goes. Nothing's built around one individual."
Farina confirmed that any other plans regarding recruitment and transfers would be largely dependent on whether or not the World Cup-winning marquee player stays or goes.
"Discussions have to be had," he said.
"I think it'll be relatively quick now in terms of discussions and a decision. That's up to Alessandro. He'll most probably need a bit of time after this game to settle his head."
"I haven't personally spoken to Alessandro about anything. That's something that will take place and will be made public after all decisions are made."
Farina offered some cryptic remarks about his own position. It had been reported that the former Socceroos boss needed to achieve a fourth-placed finish or higher in the table to trigger an extension clause.
But despite having guided the Sky Blues to fifth and an exit in the first round of the playoffs, he insisted he had a deal with the club beyond the end of this season.