The 22-year-old striker arrived at San Siro in the January transfer window after a highly eventful spell with Manchester City.

And Galliani has revealed that the Italy international will not be leaving the Serie A club any time soon.

"He's absolutely untransferable. He is our icon," Galliani said.

"The only way that changes is if someone arrived with an offer of 150 million euros (129m pounds) and you can't refuse."

Balotelli scored 12 goals in 13 appearances for Milan last season and will be a key player in the club’s attempts to wrest the Serie A title away from Juventus in 2013-14.