Raheem Sterling signs new Manchester City contract until 2023 worth potential £300,000-a-week

Sterling will only earn the maximum £300,000-a-week figure if bonus clauses - which include winning the Balon d'Or - are met

Raheem Sterling has signed new and improved terms at Manchester City (Getty)

Raheem Sterling has signed a new contract with Manchester City, tieing him down to the Etihad club until 2023.

The 23-year-old’s previous contract was due to expire in the summer of 2020 and negotiations over renewed terms opened last year.

City risked losing Sterling this summer at a knockdown price if an agreement was not reached before the summer.

Sterling has now, however, extended his stay at the Etihad until 2023 after the two parties found common ground.

The winger’s new contract could be worth a potential £300,000-a-week, though only if Sterling meets a series of bonus clauses – which include winning the Ballon d’Or.

“I’m delighted to sign,” Sterling said. “My development here has been incredible. I felt from the minute I got here it was the right choice for me. It’s really paid off for me and I’m really grateful.”

“Every season you come in you want to do better than your previous season. You want to try and develop and get better.

“With the facilities we’ve got here there’s no reason not to. With the coaching staff and the players we have in this team it’s the perfect environment to develop and get better.”

Txiki Begiristain, City’s director of football, added: “This is a significant moment for the club. Raheem has improved dramatically in the past two seasons and is now one of the Premier League’s best attacking players. His statistics tell their own story.

“He’s quick, strong and excellent in front of goal – everything a modern-day forward needs to excel. We’re all delighted he has committed his future to City.”

Sterling becomes the latest member of Pep Guardiola's 2017-18 title-winning City squad to renew his commitment to the club.

Kevin De Bruyne, Fernandinho, Ederson, Gabriel Jesus and Sergio Aguero have all put pen to paper on fresh terms over the last 12 months.