The Italy global endured a frustrating first season with Liverpool, scoring just once in the league after being brought in to help fill the void left by the departure of Luis Suarez to Barcelona.
Liverpool are Balotelli’s fifth club, with spells at Inter Milan, Manchester City and Milan having all ended in controversial fashion.
Saturday’s game will also give the fans the opportunity to have a closer look on the new signings with Nathaniel Clyne, Joe Gomez, Danny Ings, Divock Origi and James Milner all set to travel.
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Bologna’s Serie A rivals Sampdoria have been interested in Balotelli in recent weeks.
According to Italian newspaper, La Repubblica, Lazio have spoken to Mino Raiola, who represents Balotelli over a season-long loan.
And this decision is the final nail in the coffin for the 24-year-old’s Premier League career, with the Reds now desperately hoping he’ll take up the option of a loan move to Lazio, with a view to a permanent move.
Although the Metro suggest that the Merseyside outfit are looking for £7m, it seems unlikely, given the depth that Rodgers can now boast, that he will stand in Balotelli’s way even if Bologna’s offer falls slightly short of their asking price.
He has now been left out of both Liverpool squads that will play their final pre-season games in the strongest sign he is not wanted by boss Brendan Rodgers.
Balotelli, Borini and Enrique were also excluded from training with the first-team squad this week.