Raheem Sterling agrees new 5-year contract with Liverpool

England whizkid Raheem Sterling has ended speculation regarding his future by agreeing a new contract with Liverpool.

The 18-year-old winger has been in negotiations with the Anfield club for weeks over a new deal.

Sterling currently earns in the region of £2,000-per-week, but his new deal will net him a substantial pay increase to a wage believed to be in the region of £40,000 a week.

The Jamaican-born forward has just 18 months left to run on his existing contract and ensuring the teenage sensation penned an extension was a top priority for the club.

And after several meetings between managing director Ian Ayre and Sterling's representatives the England international can now concentrate on establishing himself as a key member of Brendan Rodgers' plans.

A number of the Premier League's elite were lining up to take advantage of the uncertainty regarding Sterling's future next month. Both Manchester clubs, Arsenal and Chelsea have watched Sterling extensively with a view to swooping for the forward in January.

Sterling, who started his career at Queens Park Rangers, has made rapid progress for Liverpool since breaking into the first team under Kenny Dalglish last season.