Vasco have confirmed they're eager to bring the former Italy striker to Brazil.
"It's not a dream to bring Balotelli to Brazil, but pure reality," Vasco da Gama director of sport Fabio Cordella told Tuttosport.
“We are working with Mino Raiola in an attempt to bring one of the best players in the world to Vasco."
The reports also suggest Balotelli would be joined by Italian coach Walter Zenga.
“We have a coach at the moment, but he is someone we like a great deal. I won't rule out him potentially becoming our choice in future if we should choose to change."