The 27-year-old, who wants to have a key role in a team challenging for trophies, admitted in October he could leave due to a lack of playing time, and paused talks with the club about his future to see if the situation changed.
Despite starting 23 of City’s 38 league games last campaign, he was on the bench for several key matches, including both legs of their Champions League semi-final defeat against Real Madrid.
The signings of forwards Erling Haaland and Julian Alvarez, plus more game time for Jack Grealish in his second season, could further restrict his playing time.
Sterling could become a marquee transfer for Chelsea under new owner Todd Boehly, whose consortium recently completed a £4.25billion takeover of the club.
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