STOKE-ON-TRENT, ENGLAND - Sunday, May 24, 2015: Liverpool's Raheem Sterling runs out to face Stoke City during the Premier League match at the Britannia Stadium. (Pic by David Rawcliffe/Propaganda)

Report: Man City prepare third bid for Liverpool’s Raheem Sterling

Manchester City will make a third bid for Liverpool’s Raheem Sterling this week, according to The Telegraph.

STOKE-ON-TRENT, ENGLAND - Sunday, May 24, 2015: Liverpool's Raheem Sterling runs out to face Stoke City during the Premier League match at the Britannia Stadium. (Pic by David Rawcliffe/Propaganda)

The Reds have already rejected two bids for Sterling from Manuel Pellegrini’s side, believed to have been £30 million and £40 million, whilst rumours Edin Dzeko was offered in return never came to fruition.

Now City are set to put a third bid on the table for England international Sterling, however The Telegraph journalists John Percy and Mark Ogden say Liverpool will hold out for their £50 million valuation of the 20-year-old.

After a turbulent year of speculation over his future and having rejected a £100,000-per-week deal from Liverpool, Sterling returns from holiday this week to begin pre-season training on Merseyside.

The Reds then jet off for a tour of friendlies which will see them play in Thailand, Australia, Malaysia and Finland before their 2015/16 Premier League campaign kicks off on August 9th.

Elsewhere in Sunday’s papers, Andy Hunter of The Guardian corroborates with reports from Saturday that Liverpool are looking to sign Brazilian midfielder Allan Rodrigues de Souza.

Hunter claims the 18-year-old would cost the Reds around £500,000 from Internacional.

And the Daily Mail say Liverpool’s pursuit of Christian Benteke has ground to a halt, with the Reds insisting Aston Villa drop their £32.5 million valuation, which is also a buyout clause in the Belgian international’s contract.

Benteke has reportedly been the Reds’ major striking transfer target this summer, although the chase to sign him may rumble on yet.