The Serie A side's president is reportedly in London to negotiate a possible move for the Italian.
The forward is expected to be allowed to leave Anfield this summer after a disastrous return to England that has seen him start just eight league games and fail to impress, with winger Raheem Sterling often starting up front ahead of him.
A return to Italy seems the most likely outcome for him, with the Sampdoria president having admitted in the past, to La Gazzetta Della Sport, that his side would be keen on reaching an agreement if there is one to be done.
That now seems to have moved on to the next stage with Ferrero said to have opened negotiations for the striker. However, there are several potential stumbling blocks to any deal.
First and foremost, the Serie A side are apparently interested in a loan deal for Balotelli, given how bad last season was for him, while he is still somewhat of a difficult player to work with. Liverpool, though, are hoping to recoup some of the £16million BBC Sport says they paid for him last summer.
Another problem is his wages, with the Italian picking up around €6million a year in England, according to the report, a figure which is currently too high for Sampdoria.