British media have reported the player will cost Liverpool around 28 million pounds.
20-year-old Sterling has developed a reputation as one of England’s brightest young prospects.
Steven Gerrard played his last match for Liverpool at Anfield on Saturday against Crystal Palace.
Gerrard will join the Los Angeles Galaxy in July after almost 17 years at his home-town club.
Gerrard’s last game for Liverpool will be at Stoke on May 24 on the final day of the Premier League season.
Liverpool’s Champions League hopes dashed after Chelsea hold them to a 1-1 draw.
Central defender Michael Dawson scored the only goal at the KC Stadium after 37 minutes.
The win closed the gap on fourth-placed Manchester City to four points with six games remaining.
Liverpool manager Rodgers said that his club is not looking to sell the 20-year old youngster.
Philippe Coutinho’s winner against Manchester City at Anfield led Liverpool to a 2-1 win against Manchester City.
Liverpool’s late victory over Spurs on Tuesday has opened up a riveting race for the Champions League spots.
Rodgers may not want to start Daniel Sturridge for the second time in five days.
Jose is still haunted by Anfield “ghost goal” as he prepares for 1st leg of League Cup semis vs Liverpool.
Chelsea beat Newcastle United 2-0 for a 10th successive Premier League home win.
Gerrard struck twice to give Liverpool a hard-fought 2-1 win over fourth tier Wimbledon in FA Cup.