The 27-year-old striker will enter the final year of his contract with Torino in the summer and he has been considering leaving the club at the end of the season.
A move within Serie A has been mooted, with AC Milan, Inter, Fiorentina and Roma believed to be interested in the Italy international.
Tottenham showed an interest in Bellotti last summer and have still been credited with an interest as they may look to land another striker in the upcoming window.
Torino want to offer him a new contract and there are suggestions that they want to include a release clause, applicable to clubs outside Italy.
But according to Turin-based daily Tuttosport, Belotti has no intention of having such a clause on any new contract with Torino.
The striker is far away from signing on fresh terms with the club and is seriously considering his options ahead of the summer.
However, the current changed landscape means Torino will not be able to demand the fee they previously could for Belotti.
The rumours around Belotti’s future are expected to intensify over the next few months as he gets closer to the summer transfer window.