The 22-year-old has struggled to tie down a regular starting spot in Roberto Mancini’s first-team this season, scoring just once in 13 Premier League appearances.
Balotelli has been linked with a return to Serie A, but the Cottagers manager Jol admitted he would be keen to snap up the striker, depending on the size of Italian’s transfer fee.
“He would probably cost more than the Mona Lisa but if I could get him for £7m I would be interested,” Jol told the Daily Express.
Balotelli, however, still appears to have a future at the Premier League champions despite a number of ineffectual displays, most recently in a 3-2 loss to Manchester United last weekend.
After the derby defeat, Mancini reiterated his desire to keep the Italy international at the Eastlands outfit.
“Balotelli is not for sale,” Mancini told Sky Sport Italia.
“Mario is a City player, he is loved by the fans and the management. He has been an important player for us.
“A player of his quality should think exclusively to his work and his family, he has talent and he cannot blow it as he is doing.
“Our paths may separate if I change team, but he will remain at City.”
MORE: Man United latest news
MORE: Arsenal latest news
MORE: Chelsea latest news
MORE: Liverpool latest news