Nice want to sell the striker this month as the Italian powerhouse's contract expires at the end of the season. In order to obtain a transfer fee for the Premier League champion, they must sell him this month.
Newcastle are said to have made a bid for the former Manchester City striker, who left the Citizens in January 2013, just a few months before Pellegrini moved to the Etihad in the summer of that year.
West Ham could be after a new striker before the end of the window, with Marko Arnautovic linked with a move to the Chinese Super League. Andy Carroll is also out of contract at the end of the season, while Chicharito has been linked with Valencia.
Balotelli certainly has plenty of quality, but has been in dismal form for Nice this season. Indeed, he has failed to score in 10 Ligue 1 appearances. The season before, Balotelli scored 26 goals in just 38 games.
It is believed that Balotelli is close to a move to Marseille, while Italian side Genoa are also keen.
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