Manchester City are preparing an offer of £40 million for Raheem Sterling and will make the bid in the next 48 hours, according to The Mirror.
City had a £30 million bid for the 20-year-old rejected yesterday but they are set to return with an improved figure.
Sterling has rejected a £90,000 a week contract at Anfield and has informed the club of his wish to leave.
Many clubs are reported to be interested but only City have made an offer for the England international.
It is understood that Sterling’s preference is to return to London and play for Arsenal but the Gunners, while interested, are unwilling to meet Liverpool’s valuation of the winger.
They did consider offering Theo Walcott as part of the deal but his end-of-season form is likely to be rewarded with a new contract.
Manchester United are monitoring the situation but a deal between the two rivals, Liverpool and United, looks very unlikely.
Chelsea may get involved in the bidding but their involvement will depend on Sterling and whether he’ll be willing to join them.
