Corriere dello Sport claim that Real Madrid launched an audacious bid for the forward, who only signed for Milan in January.
“Will Balotelli be sold? No, for the moment he won’t go, but in football those who are not for sale sooner or later go on the market,” Balotelli’s agent Mino Raiola told the Corriere dello Sport.
“Milan have an important project in place with Mario and he is very happy here. You can be sure he won’t move for now, but tomorrow… I don’t know.
“It is very tough for Serie A to hold on to top players right now, as their revenue is only a third of what English or Spanish clubs make.”
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Liverpool have unveiled their new home kit for next season, sticking with the hugely popular retro styling of the current shirt.
The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.