Sterling, 19, arrived on Merseyside from Queens Park Rangers in 2010, but really made a name for himself last season. Nine goals and five assists from the young winger led to a call-up to the England squad for the World Cup in Brazil this summer, with Sterling's stock rising day by day.
With that in mind, speculation suggests that Sterling could be offered a new contract in order to tie his future to the club for the foreseeable future and ward off any interest in him from elsewhere. Sterling only signed a new contract in 2012, and his current deal - worth around £30,000 per week - only expires in 2017.
Any new deal would take him to around 2019 or even 2020, with his wages likely to increase yet again. However, Sterling says that, for now at least, he isn't in any rush to sign a new deal, and will simply be concentrating on continuing his fine form this season.
"I don't know anything about a new contract. I am just here, playing football, and if the manager comes to me with a new deal, then that's his decision," said Sterling. "But I'm not in any rush at all. I am happy to just be playing football. Hopefully, I will continue to learn and improve. This is a great environment to be in at this moment and I am really happy."
With the signings of forwards Divock Origi from Lille and Lazar Markovic from Benfica, Liverpool boss Brendan Rodgers has clearly made a strong commitment to the future of the Reds attack. Sterling figures to be a vital player for Liverpool for many years to come, with his best football still ahead of him.
Sterling's development over the next 12 months will no doubt be key to Sterling's contract negotiations. If he continues to play like he did last season, then Sterling will be in a strong position to demand a huge wage increase.