Liverpool have reached an agreement “in principle” with AC Milan to sign striker Mario Balotelli, it is being reported in Italy on Thursday.

The 24-year-old has been the focus of intense speculation over the last 24 hours since Italian media reported Liverpool’s interest on Wednesday morning.

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The negotiations between the Liverpool and Milan were later confirmed by English reporters.

Now esteemed Italian journalist Gianluca Di Marzio says a deal has been agreed for the sale of Balotelli:

“From Rossoneri to the Reds, Balotelli is close to Anfield. “An agreement has been reached in principle between the two clubs after talks gathered pace overnight. “The deal should be an outright transfer, assumed to be around €20 million (£16 million) with no bonus. “Balotelli start packing, Liverpool awaits!”

The Italian international striker has scored 30 goals in 54 games for Milan after switching from Manchester City last year for £19 million.

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Liverpool have been on the look out for a new striker this summer following Luis Suarez’s departure to Barcelona.

Following the Reds’ 2-1 victory over Southampton on Sunday, Brendan Rodgers confirmed the club were still in the market for a striker.

“I do still think we need another striker,” he said.

“It is something that we will look at, but it will depend on the availability of one.

“We will search through to the end of the transfer window.”

The collapse of a move for Queen’s Park Rangers forward Loic Remy forced Rodgers to look elsewhere and if these reports are to be believed, Liverpool look to have found their man in Balotelli.

What will Balotelli bring to Liverpool if he signs? Let us know your thoughts in the comments section below, or on our Liverpool FC Forums.