Mario Balotelli has accepted a two-week fine imposed by Manchester City and dropped his appeal against the Premier League champions.

City fined the Italian a reported £340,000 for another act of on-pitch indiscipline after his red card at Arsenal on Easter Sunday.

The Italy international's lawyers were today due to present their case to a Premier League tribunal today.

City said in a statement:

"After amicable talks between the parties, as a sign of respect for Roberto Mancini, the supporters and the club, Mario Balotelli has chosen to accept a two week fine levied upon him by the club and withdraw his disciplinary appeal, which was due to be heard by a Premier League panel today.

"Mario remains available for selection for all forthcoming fixtures."

Despite an amicable settlement some City fans feel the damage has already been done.

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Balotelli's red card at Arsenal infuriated Mancini

Balotelli, 22, missed 11 competitive matches through suspension last season as a result of three red cards - one from the previous campaign - and one retrospective punishment.

He was sent off for two bookable offences at Liverpool and received a retrospective ban for stamping on Scott Parker's head before his transgression at the Emirates Stadium.

Signed for £24m from Internazionale in 2010, Balotelli has exasperated manager Roberto Mancini despite sporadic flashes of brilliance.

He has scored only three goals this season and was hauled off after an ineffectual 51 minutes in the Manchester derby 10 days ago after failing with an extravagant backheel.

Balotelli was then dropped from City's squad for the weekend win at Newcastle. Carlos Tévez, Sergio Agüero and Edin Džeko are all considered ahead of him in the strikers' pecking order.