Balotelli joined the Reds in the summer of 2014 in a £16 million deal from Milan, but after a season where he failed to make an impact by scoring just the foru goals, and seemed to irritate former Reds boss Brendan Rodgers, he was loaned back to the Serie A side.
Since his return to the San Siro, Balotelli has only managed to find the net twice this season from 12 appearances.
Berlusconi is quoted by the Liverpool Echo telling Italia 7 Gold: “Will we sign him outright? It depends on him.
“He has extraordinary technical and physical qualities, especially if he can really show maturity in terms of his behaviour in his life and his position on the pitch – he does drift out to the wings too much.
“If he were to do these things we would be very happy to make a financial sacrifice and keep him here with us.
“It depends on how much the squad believes."
Whether this actually materialises into anything concrete remains to be seen, but it seems that an upturn in form and contribution from the 25-year-old could see Balotelli's future lie at Milan.
This would be welcomed by many Liverpool fans whose patience ran thin with the Italian with the more football he played for the Reds, and given that a lot of Jurgen Klopp's style is based on good work ethic, it's doubtful that Balotelli is the sort of player that he would like to have in his side.
If Liverpool get around half of what they initially paid for Balotelli, then they have probably made the best out of bad business.