Now 31, Balotelli is currently struggling for newly-promoted Turkish Super Lig side Adana Demirspor.
The striker moved to Turkey this summer from Brescia.
“I worked with Balotelli when he was young and did really well. He was and still is in terms of technique a great player. Let's not forget he is 31 years old, so ought to be at his peak," former Inter Milan and Manchester City manager Mancini told RAI Sport.
“Clearly, it was disappointing for all of us who knew him as a person and a player that in the last five or six years he was unable to do what he was capable of doing."
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