The 27-year-old's long-term future at the Etihad Stadium is believed to be uncertain as he will soon be entering the final year of his contract, while the arrivals of Erling Braut Haaland and Julian Alvarez could limit his game time under Pep Guardiola.
While a proposed move abroad to the likes or Barcelona, Real Madrid and AC Milan has previously been mooted, Sterling could remain in the Premier League, with Chelsea seemingly the frontrunners at present for his signature.
According to journalist Fabrizio Romano, both Chelsea boss Thomas Tuchel and new owner Todd Boehly are interested in signing Sterling, and they are aware of City's willingness to sell the forward this summer for a fee between £50m and £60m.
Personal terms are understood to have already been discussed between the 77-cap England international and Chelsea's hierarchy, and there are 'positive feelings' between both parties that a full agreement can be reached this summer.
Sterling, who grew up in London and represented Queens Park Rangers at youth level, has spent the last seven years with Man City, recorded 131 goals and 95 assists in 339 appearances across all competitions, as well as winning a total of 12 trophies.