Balotelli is a free agent after being released by Brescia over the summer.
“He'd like to come here, don't forget Vasco are the second club with most trophies in the world after Real Madrid," Cordella said.
“I don't think Mario needs to come to Rio to do stupid things, I think he has reached mental maturity.
“Vasco are an institution against racism. I hope he can wait for us," he continued.
“Officially, we cannot sign anyone, but there were exchanges of mail and offers.
“Formally, we agree on everything, we just have to formalise. I hope I can do it on January 15, Vasco need a player like Balotelli and he needs a club like Vasco.
“For our fans he would be like [Diego Armando] Maradona."