Report: Manchester City make new $60 million bid for Liverpool’s Raheem Sterling

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The latest news in what is set to become the transfer saga of the summer has arrived, as Manchester City have apparently upped their offer for Liverpool star Raheem Sterling.

According to Sky Sports, the BBC and several other outlets in the UK, City have offered over $60 million for Sterling after having an initial bid of $37.5 million plus adds-on rejected earlier in June by Liverpool.

[ RELATED: Sterling entitled to leave ]

Sterling, 20, has refused to sign a new deal with the Anfield club but has two years remaining on his current contract at Liverpool. The England international was Liverpool’s main attacking threat last season but as his contract saga rumbled on his form petered out towards the end of the 2014-15 season and now it seems increasingly likely he will move on.

But is he really worth $60 million?

With just two full seasons in the Premier League under his belt, many argue whether Sterling is just a flash in the pan. But with his incredible pace a magnificent asset and still only 20 years old, City will be eager to snap up the youngster as he was not only crowned as Europe’s best young player during the 2013-14 season but he fills a valuable spot in their roster as a homegrown player.

Liverpool have insisted time and time again that Sterling is not for sale but after he rejected a $150,000 per week contract offer and his agent claimed that Sterling wouldn’t sign for the Reds if they offered him $1.4 million a week, surely now is the time to cash in while his market value is high.

Sterling joined the Reds as a youth player from QPR for $1 million back in 2010 when Rafael Benitez was still in charge at Anfield. Under Brendan Rodgers he has flourished — a few off-the-field incidents involving nitrous-oxide filled balloons and asking England boss Roy Hodgson for a rest have made the headlines — but with Liverpool unable to offer him UEFA Champions League soccer next season and City’s riches likely to offer him at least $200,000 a week in wages, Sterling would certainly not turn down a move to City if the two clubs agreed a fee.

In a previous interview with the BBC which was not sanctioned by Liverpool Football Club, Sterling revealed that he is not a “money grabbing 20-year-old” but that he wanted success and to win trophies. Even if he isn’t going to City for the cash, Sterling’s opportunities to win silverware will increase substantially as City aim to challenge for the Premier League title and UCL in 2015-16.

Will the speedy England winger be wearing sky blue when he lines up on the opening day of next season?