The England international is currently away with Gareth Southgate's side at the ongoing European Championships, and has been one of the standout performers at the tournament with three goals and an assist to his name.
It's a run of form that many believed the Manchester City winger desperately needed, after a disappointing second-half to his 2020/2021 campaign at the Etihad Stadium, which saw him lose his place in the starting XI for a prolonged period.
However, despite that particular bad patch, Manchester City officials seemingly remained insistent on renewing his contract with the club, with his current deal having just two years remaining.
According to the information of Sam Lee at the Athletic, Manchester City will have a contract offer ready for the 26 year-old when the two parties next speak, which will be after his holidays following the European Championships.
It is stated that there is 'confidence' at the home of the Premier League champions that the new offer to Sterling will be enough to retain the services of the player, with the transfer market 'hardly booming'.
While some fans have been relatively bullish in their beliefs on Raheem Sterling's contract situation, a renewal makes sense for all parties, and possibly even more so for Manchester City from a financial perspective.
Manchester City fans will be all too familiar with the situation surrounding Leroy Sane, who ultimately secured a move to Bayern Munich at the end of the 2019/2020 season for a significantly cut-price fee.
Signing up Sterling to a long-term deal would almost certainly protect his current market value, with the understanding in some quarters being that Manchester City officials value the player in excess of £80 million.
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