Manchester City signs $76 million Liverpool star

The reported $76 million fee Manchester City has paid Liverpool for Sterling makes the England national team star more expensive than the likes of Wayne Rooney and David Beckham. He has signed a five-year-deal with the club.

Although Sterling has just 95 Premier League appearances to his name, he is behind only Real Madrid's Gareth Bale as the most expensive British signing.

Since making his Premier League debut for Liverpool during the 2011-12 season the Jamaican-born forward has netted 18 goals in England's top division, making 16 appearances for his country and scoring one goal.

Sterling's former club Queens Park Rangers -- relegated from the EPL at the end of last season -- is set to pocket $15.2 million from the transfer after inserting a 20% sell-on clause into his contract when he signed for Liverpool in 2010.

It is the first signing of a quiet transfer window for City that has seen it sell just two players -- Scott Sinclair and Matija Nastasic, while James Milner joined Liverpool after his contract expired.

Liverpool, on the other hand, has been one of the most active English teams in the transfer market, signing Danny Ings, Adam Bogdan, Joe Gomez, Roberto Firmino and Nathaniel Clyne.

"Liverpool Football Club can confirm Raheem Sterling has completed a transfer to Manchester City," the club said in a brief statement on its website.

"The 20-year-old departs Anfield after 129 appearances and 23 goals for the Reds.

"Liverpool FC wishes Raheem well."

City and its manager Manuel Pellegrini were altogether more enthusiastic.

"Raheem Sterling is one of the best attacking players in world football, and I am very much looking forward to him joining our squad out in Australia later this week," the Chilean manager told the club website.

"He is a young player with outstanding ability and I am sure the Manchester City fans will be very excited about seeing him in action for the team."

(CNN)