Arsenal are being linked with a move for AC Milan striker Mario Balotelli, with Liverpool also reportedly tracking the Italian international.

Balotelli only moved from Manchester City to Milan in the January transfer window and immediately made an impact in the Serie A, scoring goals for fun.

However, the temperamental Italian has also been the subject of racist abuse from fans on more than one occasion in his homeland, and that has been seen as one of the major reasons why he could be open to a switch back to the Premier League.

Balotelli was recently handed a three-match ban for picking a needless red card after arguing with the referee and the Italian club are reportedly tired of the striker's antics, according to reports in Italy.

So fed up are they that they are ready to let Balotelli go for a cut-price £12 million, after paying Manchester City an initial €20 million for the striker's services in January.

Liverpool are also reportedly interested and Brendan Rodgers could make a move if Luis Suarez leaves for pastures anew in the January transfer window.

Now, Arsene Wenger likes a good deal as much as anybody in football, but signing Balotelli, at any price is a huge gamble.

His stay in England was filled with controversies both on and off the pitch and while his talent is undoubted, bringing someone like Balotelli back is pretty risky, even if Arsenal are in desperate need of a proven striker to help reduce the burden on Olivier Giroud.

Also Milan have not shown any inclination to sell Balotelli, and despite being a little fed up with the latest red card incident, it is unlikely that they will even consider selling their best goalscorer, let alone for a knock down price.

Meanwhile, Wenger is quite satisfied with Arsenal's great start to the Premier League, after picking up their fifth straight win at the weekend, and believes his side are capable of competing for the title if they continue this run.

"We have the desire to be champions, you can see that," Wenger said after the 2-1 win at Swansea. "It's still the early stages of the season, we have only played six games, but I would have signed up to have 15 points now after losing the first game. Let's just try and keep going. We have a chance but it is very open.

"You can add Liverpool, Tottenham and Everton to the top four, it will be very interesting. What has changed compared to years before is that at 80 percent you will not beat any team in the Premier League.

"You have to be at least between 95 and 100 percent and that promises a very interesting season."