The Montenegrin was linked with a host of big sides across Europe.
“I’m happy to be at Fiorentina, otherwise I would have left,” the 22-year-old forward told Sky Sport Italia.
“I had a lot of offers, but, in the end, I decided to stay because I was promised that the club would build a great team this summer and they have done that.”
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Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.
Newcastle United are staring down the barrel of relegation to the Championship for the second time in the past eight years.