Balotelli will not be eligible to face City at the Etihad Stadium on Monday should he sign that day, but could make his debut at Tottenham Hotspur next Sunday.
Mario Balotelli has accepted a 50 percent paycut from his A.C. Milan wages to join Liverpool.
Liverpool have agreed a £16 million fee with Milan for the Italy international and a three-year contract worth a basic £80,000-a-week plus £40,000 in performance and behavior incentives.
Brendan Rodgers still needs to be convinced that the striker is willing to develop at Anfield before a deal becomes final.