The controversial Italy international is poised to join the Serie A club from Manchester City after arriving in Milan to undergo a medical. The 22-year-old is then expected to sign a four-and-a-half-year contract after Milan agreed a fee believed to be worth £19million, rising to £22million, with the Premier League champions.
Quoted on the club's website, acmilan.com, Galliani said: "I certainly do not have to introduce Mario Balotelli. It is a dream come true and something that we all wanted, with the president Silvio Berlusconi at the forefront."
He went on: "With the arrival of Mario, we have strengthened our team a lot.
"We have worked so hard and Mario has been in our hearts for a long time and finally we have succeeded in signing him."
Balotelli had been linked with Milan since the transfer window opened at the start of the month with both Galliani and Berlusconi regularly speaking about the player.
It seemed City's valuation of Balotelli might have been a problem but the clubs have agreed a price which leaves City just short of the £24million they paid Milan's arch-rivals Inter in August 2010.
After his medical Balotelli was expected to meet Milan officials, with arrangements to be made for his official unveiling.
It remains to be seen whether he will be available to play in Sunday's game against Udinese at the San Siro, as he has featured little in the past two months.
He has made only two substitute appearances since a dismal performance in the derby against Manchester United on December 9 due to a combination of selection issues and illness.
- Sports & Recreation
- Mario Balotelli
- Silvio Berlusconi
- Manchester City