The 19-year-old has been linked with a move to both Old Trafford and Eastlands for several weeks, with the player's agent Mino Raiola admitting that both Sir Alex Ferguson and Roberto Mancini were keen on recruiting the temperamental Italian.
City appear to be the current favourites to secure Balotelli's signature, with Mancini having worked with the frontman during his time in charge at the San Siro.
"Balotelli? Lets wait and see what happens. The club decides the transfer market and I adapt. The fact remains that one player doesn't make the team, and Inter have plenty of strong players," he told La Gazzetta dello Sport.
"I want to do well in the coming campaign, because I don't think we've seen the real Balotelli, the one who can target the Ballon d'Or.
"When I talk about my future I always say 'I don't know' because next season I want to play consistently. I need that."
"I cannot be considered valuable and yet never play. To know more, ask my agent. In any case, if Manchester City and Manchester United want me, I can't be that bad."
Ancelotti recently ruled out a move for injury-plagued Liverpool forward Fernando Torres, with Balotelli now believed to be the Italian's top target as he bids to retain the Premier League title and secure a first Champions League crown for the Blues.
