The Lions sporting director Tomas Ujfalusi added to transfer rumours when he told reporters that Balotelli would be treated like a king in Turkey.
"Whilst I do not know of specific interest, he is a strong player. Here he would be king," Ujfalusi said.
However, Prandelli denied reports linking Galatasaray with Balotelli.
"There is no truth to these rumours regarding us being linked with Balotelli and Andrea Pirlo," Prandelli said.
"Mario is a basically good guy. He's not a bad guy. But he lives in a dimension that is far from reality. But it does not mean anything."
Arsenal were the bookmakers favourite to sign Balotelli however, the Gunners are now reported to have focused their transfer efforts on Douglas Costa.
The Italian international scored 14 goals and made 6 assists in 30 appearances for AC Milan last season.
