The temperamental forward was red carded for a petulant challenge on Bacary Sagna in the Etihad Stadium outfit’s 1-0 defeat to Arsenal on Sunday, much to Roberto Mancini’s frustration.
With AC Milan and Inter circling, a move back to his homeland had been touted, but this will not happen according to Mino Raiola.
“I’ve spoken to Mario and City boss Roberto Mancini. There was a moment of tension, but all is calm now,” the agent told Sky Sport Italia.
“Mario has understood his errors, but he’s a special player in every sense and sometimes he makes mistakes by accident.
“There is no problem. I was with him (Balotelli) yesterday at the stadium. The club is quiet and Roberto Mancini too.
“Mario must remain in England because it’s good for his career and he has to come out as a winner. He does miss Italy and he wants to finish his career there, but not now.
“City have no intention of selling Balotelli because there isn’t a talent in the world like him, at his age.
“When he does decide to return to Italy there will be a great bidding war between AC Milan and Inter Milan, but it’s not the time. The speculation can be expected, it’ll be in one or two years, I don’t know,” he concluded.
By Gareth McKnight