The player's representative is hoping to find a resolution...
The Citizens have been linked with a big-money move for the talented youngster all summer but a deal has yet to be finalised. 'Super Mario' earned his first call-up to the senior Italian national side and is expected to start for the Azzurri in their friendly against Ivory Coast on August 10.
"At the moment I can exclude this, because there are negotiations ongoing," he was quoted as saying by AGI/ITALPRESS when asked whether the teenager would remain with the Nerazzurri for the foreseeable future.
"I'm working, until the end of August there is still time. We are working towards an agreement between the two parties."
Manchester City coach Roberto Mancini recently refused to throw in the towel in his attempts to lure both Balotelli and Aston Villa's James Milner to Eastlands.
Balotelli had a tumultuous relationship at times with former coach Jose Mourinho last season and whether he is in the plans of current boss Rafael Benitez remains to be seen. His transfer fee is rumoured to be in the region of €30 million.