According to Sky Sports, Manchester City have agreed what will be Britain's second most expensive ever deal behind Gareth Bale's £86m move from Tottenham Hotspur to Real Madrid.
Raheem Sterling's future has been the subject of intense speculation since he turned down a new contract earlier this year.
And the England international now appears set to complete his long-rumoured move to the Etihad Stadium.
But according to former City star Trevor Sinclair, the Premier League title hopefuls are paying way over the odds for Sterling at £49 million.
Taking to social networking site Twitter, the scorer of the first ever goal at the City of Manchester Stadium said: "Too much money paid for Sterling!"
"(A fee of) £40m was more than enough for me."
"Not an ideal situation for homegrown players prices either #inflation."
"I would have maxed at £40m then walked away."
Too much money paid for Sterling! £40m was more than enough for me. Not an ideal situation for homegrown players prices either #inflation— Trevor Sinclair (@trevor8sinclair) July 12, 2015
I would have maxed at £40m then walked away https://t.co/moI7hxjw70— Trevor Sinclair (@trevor8sinclair) July 12, 2015
Tweet highlights new pressure on Sterling
Whether you agree with Sinclair - who is now the assistant manager at Lancaster City and a women's football pundit - or not over whether an extra £9 million is a lot to a club of City's extreme wealth in the grand scheme of things, it does highlight the kind of intense scrutiny such a big move will place on Sterling's young shoulders.
He has already been vilified by both Liverpool and England fans for his conduct after telling Roy Hodgson he was too tired to play for his country and later informing Liverpool he did not intend to stay at the club where he has shot to prominence.
And now, as the country's second most expensive signing ever, his every move will be under the microscope more than ever before.
Can he handle it?
But can he handle that new level of pressure and still produce under the spotlight?
At Anfield he has been brought through carefully by boss Brendan Rodgers who has helped elevate his talent to another level.
His manager has gone to great lengths to ensure there was never too much burden placed on the former Queens Park Rangers youngster's shoulders.
But now he will be expected to deliver goals and assists to help his new club win silverware. Fail on that kind of stage and he could soon be labelled an expensive flop.
Nothing has daunted the brilliant midfielder so far in his fledgling career but this will undoubtedly be his biggest test.