Marca says City have told any club interested in signing Sterling that they will have to pay £67m to get a deal done as reported by Tribal Football.
Barcelona’s need for a new winger is exacerbated by Ousmane Dembele’s contract situation – his deal is set to expire at the end of the season.
The club could look to move him on in January for a cut price to avoid losing their £135million signing on a free transfer.
Recent reports in Spain have linked Barcelona with an initial loan move for Sterling because their financial woes mean they could not afford to pay a huge fee for the former Liverpool star at present.
Sterling has 18 months remaining on his current contract at the Etihad Stadium but has opted against opening discussions over an extension until his short-term future is resolved.