Sterling is now into the final two years of his deal with the Premier League champions and there is no sign of him penning a new contract as he keeps his options open.
“Definitely, it would be nice to play abroad. It would be a great experience. Spain’s attractive. Anywhere the weather is nice really,” Sterling confirmed in a December 2017 interview.
Madrid are now watching with interest to see how the situation develops and they know his value with diminish as his contract runs down.