Manchester City have made a second bid for Raheem Sterling in a deal that would make the Liverpool star England's most expensive ever player, reports The Times.
Manuel Pellegrini signed off on a deal worth an initial £35m with the potential of a further £5m depending on Sterling's future success.
It would surpass the £35m Liverpool paid Newcastle for Andy Carroll, making Sterling the most expensive player to ever come out of England.
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The Citizens saw their opening bid of £25m plus £5m firmly rejected by the Anfield club and their second offer is likely to get similar treatment.
Liverpool are insisting on an offer in the region of £50m for the 20-year-old, but there is plenty for Brendan Rodgers to consider before deciding whether or not to knock back this bid.
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Sterling and his agent have worked hard to make his position at Liverpool virtually untenable and he is likely to leave the club at some point this summer.
To accept or not accept?
Manchester City have told Liverpool that they are unlikely to improve on this second offer, leaving Liverpool in a difficult position.
Selling the England international now would bolster Liverpool's transfer budget and allow Rodgers to rebuild his squad ahead of preseason.
Drawing the transfer out may reap a bigger offer, but, by then, the money may be of little use to Liverpool.
Accepting the offer may also provoke other interested clubs to make bigger offers and increase the final fee even further. Arsenal and Chelsea are both rumoured to be monitoring the situation with Sterling reportedly keen on return to London.
Arsene Wenger, who himself is busy working on a deal to sign Petr Cech from the Blues, is unlikely to bid as high as City, but has shown a willingness to spend big in the previous two summers with deals for Alexis Sanchez and Mesut Ozil.
Chelsea have money in the bank after sealing a £40m-a-year deal with new shirt sponsors Yokohama and could match the offer.
Manchester City's bid has almost certainly ruled Real Madrid and Bayern Munich out of proceedings. Both were interested but neither are likely to match the offer from the Etihad.
Should Liverpool accept the £40m bid from Manchester City for Raheem Sterling?
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