But according to the Daily Express, the Gunners are still interested but have been told to up their bid to £29.5 million – something Arsene Wenger plans to do.
The 23-year old has been on Wenger’s wishlist for most of the summer and it is now reported that Balotelli is free to speak to Arsenal when he returns from Brazil.
He is expected to earn up to £180,000 per week at the North London club when he puts pen to paper.
The former Manchester City striker has scored 26 goals in 43 games in Italy since he left the Etihad Stadium in 2013.
But it now looks like the controversial Italian is set to bring excitement to the Premier League yet again.
Arsenal fans. It feels strange watching Wenger splash the cash, especially on a player with such a reputation. Do you think it will prove to be a successful move? Let us know your thoughts below.
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