Raheem Sterling finalizing five-year extension with Liverpool

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Raheem Sterling may be remaining at Anfield for years to come.

Reports have detailed that the young midfielder, who signed a five-year contract with Liverpool in 2012, is close to inking a new deal that would have his wages increased.

Real Madrid was heavily linked with acquiring Sterling over the summer transfer window, while La Liga rival Barcelona and German giant Bayern Munich were also rumored to want the 20-year-old on their side.

[RELATED: Sterling to Real Madrid?]

But the contract Liverpool has brought up for Sterling will likely keep him out of other teams hands for the immediate future.

Sources have revealed to ESPN FC that he rejected an increased in salary to 70,000 pounds per week ($105,861), instead favoring 100,000 pounds ($151,230) per week. This monetary surge will certainly be a part of this agreement to lengthen his tenure through 2020.

Liverpool manager Brendan Rodgers praised the skills of Sterling during a news conference on Thursday.

Per ESPN FC:

“Raheem is a young kid who has burst on to the scene and been outstanding. I think he’s shown that he’s one of the top outstanding performers in the most competitive league in the world,” Rodgers said.

“He’s just 20. He’s got a lot of years of maturity and a lot of years left in his football education.

“There’s absolutely no question he could go on and become one of the leading players in the world consistently.”

Sterling has scored four goals and notched four assists in 20 games this season, helping ease the difficulties faced with the absence of Daniel Sturridge as a marquee attacker.