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Published 21:08 1 Jan 2016 GMT
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Balotelli has been hampered by injury and has only managed one goal in four starts at the Serie A club.
Raiola admitted that Balotelli has to do the business on the pitch at Milan before he can think about his future.
"I think it is too soon. Obviously if Mario does what he has to do, there is maybe another view on him also.
"He had to go away because with Brendan [Rodgers] there was no possibility to develop any more. There was a preconception towards Mario and I think from his private part of life he has proven them wrong.
"But we have to be realistic. He didn't perform well in 2015 and 2016 needs to be his year. That is his challenge."JOE’s World Cup Predictor – Win €1,000 every day in our FREE game
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