The Serie A club are continuing to consider a move for the 22-year-old Manchester City striker, who appears set to leave the Premier League champions after a training ground disagreement with manager Roberto Mancini.

But Galliani told Gazzetta dello Sport: "At the end of Friday, Manchester City still said €37 million [as a fee for Balotelli]. We will see on Monday but, under these conditions, he will remain at Manchester City."

Galliani reiterated that point in an interview with Sky Italia before Milan’s victory over Bologna on Sunday, saying: “It depends on them [City]. I am waiting, they are there, and if the price drops then we will jump for Balotelli. Otherwise, we will stay in Milan.

“They are his legitimate employers, so we wait, observe, and see what happens. How much does it have to drop? We don’t know. Paying in instalments is an option, but you still have to pay.”