Mario Balotelli: Linked with move back to England

Balotelli has been strongly linked with a return to the Premier League, with Arsenal and Chelsea both reported to be showing an interest in the former Manchester City star.

Berlusconi refused to rule out the prospect of selling the 23-year-old - who is currently with the Italy World Cup squad ahead of the finals in Brazil.

"Will Balotelli stay? We have not decided about the market yet, neither for signings or for sales," Berlusconi told the Italian media.

"We are evaluating, anyway, new players, but to take decisions we must wait for the new coach", he added.

Milan are widely expected to announce former striker Pippo Inzaghi as their new coach.

And on a new managerial appointment, Berlusconi added: "We have convened the board of directors of AC Milan and there we will decide who will be our new coach."

Current coach Clarence Seedorf has stated that he has not been told that he is leaving.

"I read things like you," Seedorf told Sky Sport Italia.

"But I haven't information from the club and so I have nothing to say. I feel good and I'm trying to live these days with the family and friends, and I reaffirm to have not had indications from the club."