Manchester City made the first move in the Raheem Sterling saga on Thursday night after launching a £25million bid with another £5m in add-ons for the Liverpool forward.
However, the Reds rejected the offer from their Premier League rivals and are understood to be holding out for £50m for the England star.
Elsewhere, Chelsea face competition from Liverpool for Radamel Falcao, while Manchester United have been linked with a move for Brazilian attacking midfielder Roberto Firmino.
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