The former Manchester City striker is said to be the Gunners’ top target for the coming months, with securing a top-class goal-getter the club’s main aim.
Although Balotelli is seen as a loose cannon thanks to his off-field antics, his technique has rarely been questioned.
Wenger is thought to be willing to take a gamble on a big £27m offer, with the player thought to be unsettled after 18 months back in Italy.
The 23-year-old’s representatives are said to be looking around for a fresh challenge for the forward, and the money Arsenal are reportedly willing to offer is tempting.
£180,000-per-week would be a £30k boost on his current earnings at Milan, and although it would appear to go against the Londoners’ salary ethos the swoop may be part-funded by sharing some of his sponsorship rights.
Puma could also boost their hopes, with Balotelli a poster boy for the sportswear brand who will supply Arsenal’s kit next term.