The Italy international has long been linked with a return to Serie A despite president Silvio Berlusconi insisting the club will not sign the striker.
City manager Roberto Mancini was embroiled in a training ground row with Balotelli at the start of the year but has also insisted this week that he will stay with the Premier League champions, claiming the club have received no offers for the 22-year-old.
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As revealed by Goal.com, Manchester City have lowered their asking price for the striker to £20 million with the Italian having already given notice on his house as he prepares for a move away.
However, Galliani is not expecting Balotelli to arrive and says a move is very unlikely.
“Kaka and Drogba are 101% not coming to Milan. Balotelli? He is 99.9%...” he said.
“Abate and Antonini are staying. Their agent was in Russia to see through Salvatore Bocchetti’s transfer to Spartak Moscow, that is all.”