Il Corierre dello Sport reports that Chelsea boss Jose Mourinho is thought to be a big fan of Balotelli and would bee keen to bring him to Stamford Bridge.
Mourinho worked with the 23-year-old at Inter Milan. The Portuguese manager believes it would be a bargain if they could sign Balotelli for just £25million.
Balotelli joined AC Milan from Manchester City earlier this year, as the Premier League side were frustrated by the Italian striker’s on and off-field antics.
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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.