Report: Chelsea enter race for Raheem Sterling, refuse to pay hefty asking price

The Premier League champions have reportedly entered the Raheem Sterling sweepstakes.

Chelsea have joined Manchester City and several other clubs in the race to lure Sterling away from Liverpool, but the club expressed an unwillingness to meet the team's massive asking price, according to Sky Sports.

Following City's failed attempt to purchase Sterling with a bid close to £25 million, Liverpool are reportedly requesting that clubs pay £50 million for the England international.

Liverpool's valuation could possibly decrease considering Sterling's reluctance to sign a new deal and the possibility that he may request a transfer, which would dramatically impact the team's bargaining position.

Sterling, who has two years remaining on his current deal, has attracted attention from all over Europe, with Real Madrid, Bayern Munich, Arsenal, and Manchester United rumoured to have expressed an interest over the past several weeks.