Reports in the Italian media had suggested the former Manchester City and Inter forward would be allowed to depart San Siro, with Berlusconi allegedly planning to offload the 23-year-old during the January transfer window. 

Balotelli has previously been linked with a move back to England, with Chelsea thought to be among his suitors.  

But the Serie A club have strongly denied claims he will be sold and insist there are no plans to allow Balotelli to leave. 

A statement on the club's official website read: "AC Milan denies absolutely and vehemently the statements that have been attributed to the president of Milan about a possible placement of Mario Balotelli on the market."

The Italy international joined Milan in last January's transfer window, bringing an end to a three-year stay at the Etihad Stadium. 

Balotelli notched 12 goals in 13 league appearances for Massimiliano Allegri's side last season and has six in 12 in the 2013-14 Serie A campaign. 

Milan have endured a frustrating season and are 13th with 19 points from 17 games.