Mancini would like to work with Balotelli again having given the 19-year-old forward his first break during his time in charge at Inter Milan.
"There is money to sign everyone, but not to pay them a lot, as some people are saying," he told La Stampa.
"He (Balotelli) is one of the four or five strikers that interest us.
"I was the first to believe in him and I'm convinced about what he can do.
"Mario has two qualities that suit us, his talent and his age, because I want people able to build a cycle at Manchester City.
"But we come back to the problem of the valuation, which must be resolved.
"I think in about 10 days, certain situations will be clearer."