It is simply not going to work at Liverpool. Their offensive game is based on fluid teamplay and link-up play between 'roaming' mobile forwards such as Sterling, Sturridge, Suarez and Coutinho. How would it make sense to have an extremely selfish, static player with extremely low work rate in the team? How would he even link-up with Sturridge, with Sturridge also being fairly selfish and clearly the main striker in their team? Whilst Liverpool were able to play a diamond or a 3-5-2 with Sturridge and Suarez in the same team, Suarez was extremely mobile and looked to roam around in the flanks and the channels. Can you expect Balotelli to do the same? No, he clearly thinks of himself as the focal point of the attack. Sturridge can do the Suarez role but he is not as talented/creative as Suarez to pull it off.
If Rodgers can pull it off it would be fantastic for Liverpool, given the relative low price that Balotelli appears to be commanding for a player of his ability. Balotelli is a fantastic talent and if Rodgers can truly polish his game and eradicate his glaring weaknesses, he would be phenomenal for Liverpool. However, it doesn't look likely given the way Liverpool play and they would have been better served with going for Remy tbh.