Balotelli signed a one-year deal when he joined last summer, with his 15 goals in 23 games helping the club to an unexpected third-placed finish.
Joao Luis Afonso is expected to join PSG as recruitment chief after leaving Turkish side Antalyaspor.
Blaise Matuidi is considering his future at Paris Saint-Germain and is yet to discuss a new contract with the club, his father has said.
Kluivert said he could not envisage a scenario in which PSG president Nasser Al-Khelaifi would agree to sell Verratti.
Paris Saint-Germain player Angel Di Maria has accepted a one-year prison sentence and will pay a total of €2m in back-taxes for tax fraud.
French champions Monaco have confirmed the signing of teenage forward Jordi Mboula from Barcelona.