Depending on the source, City's bid for the winger is somewhere between £25 million and £30 million.
Though Liverpool have rebuffed the offer, it promises to be the first move in what may be a long summer of interest in the England international, with Manchester United, Chelsea, Arsenal and Real Madrid all credited with interest in the player at one point or another.
Sterling's support among Liverpool fans has dwindled after news emerged in March that he was unwilling to discuss a new contract until the end of season, telling BBC Sport that he wasn't a money grabber after snubbing a £100,000 a week offer.
This quickly escalated, reportedly via his representatives, into rumours the 20-year-old was unwilling to sign a new deal, even "if £900k a week was offered" his agent Aidy Ward is quoted as saying in sources such as the Mirror.
With the Anfield faithful growing frustrated by their former hero's actions, despite manager Brendan Rodgers claiming Sterling will be going nowhere, what would be the best possible outcome of the dilemma.
Supporters took to Twitter to express their opinions on the matter:
25 million for Sterling I'd take it— Coutinho (@DanceSturridge) June 11, 2015
Whos crazier, City for bidding £30m for Sterling or Liverpool for rejecting it?!— James Lynch (@lynchy295) June 11, 2015
I wouldn't sell Sterling to another English club regardless of price. £50 mil min from foreign club.— Jamie Hall (@JamieHall_YNWA) June 11, 2015
One thing that really impresses me about my Liverpool family is quite simply how unanimously we agree on Rodgers and Sterling out #lfc#ynwa— LFC-TM (@Its_all_left) June 11, 2015
I don't think it matters what we get for Sterling as we will end up wasting it just like the £75 million for Suarez. What a joke we are YNWA— LFC YNWA (@MandairManjeet) June 11, 2015