The 22-year-old’s future at the Citizens appears to be in doubt after a very public confrontation with Roberto Mancini at the City training ground earlier this month.
The Citizens manager played down the incident, but doubts continue to linger over the Italy international’s long-term future at the defending Premier League champions.
Balotelli, who spent four seasons at Internazionale, has been linked with a controversial switch to Milan, and Galliani confirmed the Rossoneri’s interest.
“If Balotelli’s price comes down then I’ll get over to Manchester immediately,” Galliani told Gazzetto dello Sport.
Milan could face competition from Serie A rivals Napoli for the striker, with manager Walter Mazzarri expressing an interest in working with Balotelli.
“Only those who know him well can say what kind of problems he might create in training,” Mazzarri told La Repubblica in January.
“I’ve got a bit of experience, though, and it would be stimulating to work with a talent like his.”
MORE: Latest Man Utd news
MORE: Latest Arsenal news
MORE: The latest football news