The controversial Italian was charged by the Football Association on Monday as a result of his stamp on the face of Tottenham's Scott Parker.
It is the latest talking point in Balotelli's eventful career and it provides critics with further reason to suggest he should leave City, with AC Milan reportedly interested.
But, speaking on the same evening as his client's FA charge, the representative of the striker, who began his career at Inter Milan under now-City boss Roberto Mancini, ruled out a quick exit.
"Mario and Roberto are not married, but Mario is grateful," agent Mino Raiola told GR Parlamento. "Sometimes they fight and argue, but Balotelli knows what Mancini was and is for him.
"However, I cannot say that Mario will remain at Manchester City for life.
"Certainly he will stay there this season and the next one, too. Then we will see."
Raiola did not totally dismiss Milan's interest in signing Balotelli, but doubted whether the Italian club will ever be able to afford the forward amid the economic recession.
"We know what a difficult time is passing through the Italian market," he said. "Mario is becoming the best player in the world and every year will become increasingly expensive.
