The Italian outlet Sport Mediaset have reported that the Lion’s are in a race with Lazio to secure the controversial striker’s signature.
The Liverpool Echo newspaper recently reported that the Red’s are keen to offload the £80,000 per week striker in the summer and will consider cut price bids in order to get him off the books.
The 25-year-old is currently on a season long loan at AC Milan. Baloteli has scored just one league goal in 23 appearances for the Serie A giants this season.
Balotelli has previously been linked with a move to Galatasaray, however given the clubs precarious financial position, a deal looks unlikely.
The Italy international joined the Reds on a £16 million transfer last season but struggled to settle in and failed to score a single goal.
Galatasaray are on the lookout for a new striker after offloading their top scorer Burak Yilmaz in January.