A deal that would send beleaguered Manchester City striker Mario Balotelli back to Italy -- either to AC Milan or Juventus -- is in the works and could be completed before the Thursday transfer window deadline, according to reports.
Balotelli's agent, Mino Raiola, is in Manchester trying to reach a deal, preferably for a permanent transfer but possibly on loan, The Guardian reported Tuesday.
Manchester City's asking price is 23 million euros ($30.9 million) for the 22-year-old and AC Milan's initial offer is close to 20 million euros ($26.8 million), according to The Guardian. La Gazzetta dello Sport also reports Milan president Adriano Galliani's offer at 20 million euros ($26.8 million), but cites City's asking price at 22 million euros ($29.5 million).
Sky Italia reported Monday that AC Milan made an official bid for Balotelli.
According to Sky, Milan offered 24 million euros ($32.2 million), which would be paid in six installments for the duration of the proposed 4½-year contract.
Balotelli cost $37.7 million when he signed from Inter Milan in August 2010, according to Press Association reports.
City manager Roberto Mancini has consistently said his fellow Italian is not for sale throughout this month's transfer window but that has not quashed rumours linking him with the San Siro giants.
Information from Press Association was used in this report.