Liverpool manager Brendan Rodgers reluctantly accepted Manchester City's bid for Raheem Sterling pegged to be around £49 million ($76 million), according to Sky Sports sources.

Although the transfer is still subject to medical examinations and contract negotiations, it is believed to be a done deal.

In a report, The Guardian said the agreement was finalized on Sunday afternoon. It was initially at £44 million ($68.49 million), with a further £5 million ($7.78 million) due in add-ons. The English international is now free to discuss with Man City any personal terms they might want to negotiate. The agreement was set at around £200,000 ($300,000) a week and will take full effect once everything is final.

The Sterling transfer is one of the most protracted transfer stories of the current window, noted The Guardian. The first bid offered by Man City was at £25 million ($39 million) rising to £30 million ($46.7 million), followed by a £35 million ($54.48 million) with add-ons to take the deal closer to £40 million ($62.26 million) - but both offers were rejected by Liverpool.

Sterling's relationship with the higher-ups of Liverpool has been rocky since Rodgers revealed that the forward was dealt an incredible offer, added Sky Sports. The forward pushed the executives' buttons by saying in an unofficial interview that he turned all offers down.

Other news outlets have reported the same crack in the player-manager relations, including the Mirror, which also reported that the reason for the transfer is Sterling and the Liverpool manager's relationship.

The 20-year-old forward expressed his intentions of not joining the club in their pre-season tour, and even missed a training, reasoning he was sick. Sterling became very vocal about Rodgers being the reason for his refusal to continue playing for the club.

However, the manager maintained that Sterling and himself have a good relationship. The two reportedly spoke at a closed door meeting setup to convince Sterling to stay at Anfield.

The manager assured Sterling that any financial issues will be ironed out, if that is the problem. However, Sterling was adamant about leaving the club, saying it is the breakdown of the player-manager relations that pushed him over the edge, noted the Mirror.

According to the Telegraph, Liverpool will now focus on moving to acquire Christian Benteke from Aston Villa, and is set to make public an offer sheet for the Belgian attacker in the days to come.

Sterling's exit marks the end of a long and highly publicized rift between the English forward and the club. Telegraph's Chris Bascombe said that there is "a sense of bemuse­ment at the agitating tactics that were employed by Sterling's representative, Aidy Ward, given that the size of the final bid would have been difficult for Liverpool to turn down even if the player was not publicly seeking a move. Liverpool are reluctant sellers, but there is a degree of astonishment at the fee they have received for a player they signed as a 16-year-old in 2010."

Manchester City now moves on to new challenges of the new season armed with one of Europe's highest rated young players, said Bascombe.