Former Manchester City forward Balotelli is eyeing a return to England after battling with the Italian media this season.
Agent Luca Vargiu told TMW: "It's a story that surprised even me, sincerely. I talked this morning with my contact in England and also there are not big confirmations.
"If he ends up there, it will be due to problems, unfortunately. In the end he will always create problems. And Arsenal have the economic means to look elsewhere."