Mario Balotelli, AC Milan
Balotelli may make a move back to the Premier LeagueReuters

Arsenal manager Arsene Wenger has reportedly been put on alert by speculations that AC Milan are looking to offload striker Mario Balotelli this summer.

The 64-year-old French tactician, who is believed to be a big fan of Balotelli, is looking to bring the 23-year-old back to England, according to the Mirror, despite the Italian being involved in several controversial cases both on and off the field, during his two-and-a-half year stint at Manchester City.

Balotelli, who scored 14 and assisted six goals from 30 appearances in the Serie A last season, is also reportedly keen to return to England, after facing numerous incidents of racism in Italy.

Milan, who endured a poor campaign last season - finishing eighth in the league, are keen to get some fresh faces onboard this summer. And in order to do so, the Italians are looking to reduce their wage bill and offload some players. And Balotelli, who has fallen out-of-favour at the San Siro, is expected to be one of the players sold this summer.

Milan, who paid £24m to secure the services of Balotelli from City in January 2013, will be hoping to make some profit from the striker's sale.

Wenger, who had tried to sign the Italian from Inter Milan back in 2009, had previously stated that Balotelli had the potential to be a top class player.

"I consider Inter an excellent squad who can do really well in the Champions League. In particular I am keeping an eye out for Balotelli, a player I like very much. In my view he can be one of the best," Wenger had said.

Meanwhile, Arsenal are reportedly looking to sign Malaga goalkeeper Willy Caballero, according to the Independent.

With Lukasz Fabianski joining Swansea City and Emiliano Viviano returing to Palermo after the completion of his loan spell, Arsenal are looking to sign a goalkeeper to provide cover and competition to Wojciech Szczesny.

Despite previous reports linking Arsenal to Norwich City's John Ruddy and Cardiff City's David Marshall, the Gunners are now looking to bring in Caballero, who - despite not being included in Argentina's World Cup squad - has been very impressive at Malaga.

The Gunners are believed to be preparing a £7m bid for the 32-year-old. However, the north London club may face some competition from Atletico Madrid, if their current first-choice goalkeeper Thibaut Courtois is recalled by parent club Chelsea.