Manchester City have been told by AC Milan they have no chance of signing Stephan El Shaarawy, with CEO Adriano Galliani insisting the talented youngster will sign a new deal at the San Siro soon.

The Italian youngster has been a revelation for Milan this season as they struggle to come to terms with the departures of senior players over the summer.

The Rossoneri sit in 10th place in La Liga after 11 games, 14 points adrift of league leaders Juventus. Despite their poor league form El Shaarawy has eight goals in 11 games to his name, prompting one Italian newspaper to label him the future of the Italian club.

Manchester City have been linked with a move for El Shaarawy in recent weeks, with some reports even claiming the Citizens are ready to swap troublesome forward Mario Balotelli for the 20-year-old.

The promising youngster is contracted with Milan until 2017, but Galliani says he ready to put speculation linking him with a move to the Etihad Stadium to bed by signing a one year contract extension.

“El Shaarawy to Manchester City? Enough with the speculation! He has a contract for five more years until 2017, and will soon sign an extension until 2018,” he told Sky Italia.

Galliani was slightly more ambiguous when discussing a potential swoop to take Balotelli back to Milan, but this time in the black and red of AC Milan rather than black and blue of Inter Milan.

"I have a profound love for Balotelli, but love doesn't always end well," he commented.

Balotelli was handed a rare league start for Manchester City on Saturday, but couldn’t help the reigning Premier League champions to victory as they recorded a 0-0 draw at Upton Park.

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