Arsene Wenger reportedly met with the striker's agent in June. But the Gunners have not followed up on their interest in the 23-year-old, according to Adriano Gallian.
Arsene Wenger reportedly met with the striker's agent, Mino Raiola, in Brazil for talks over a potential 31 million-euro move back in June.
But after a subdued World Cup for Balotelli that saw Italy eliminated in the group stage, Milan's club president Silvio Berlusconi conceded that a deal between the two clubs had stalled.
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And Galliani has now confirmed that Arsenal has not followed up on its interest in the former Manchester City forward.
"We have not received any offer [for Balotelli] and at this time," Galliani said Sunday. "There is nothing from Arsenal."
Meanwhile, new Milan coach Filippo Inzaghi maintains Balotelli remains a part of his plans for the new campaign.