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Manchester City will make an improved, 'Take-it-or-leave-it' offer for Raheem Sterling in the next 48 hours to spark a £150million summer spending spree.

Liverpool flyer Sterling, Paul Pogba, Kevin Bruyne and Giannelli Imbula are all in City’s sights as they attempt to get their main transfer business of the summer done early.

The Blues are undeterred by the rejection of their initial bid of £30m for Sterling, and are set to go back with a £40m package for the England international.

Although Liverpool are holding out for £50m for Sterling, City are reluctant to go above that £40m figure and believe they can secure the 20-year-old at that price.

City’s move for Sterling is part of a major summer of investment for the deposed champions, who are ready to splash the cash in order to win trophies again after ending last season - when they were hampered by FFP regulations - empty-handed.

Raheem Sterling's career in pictures:

As well as the bid for Sterling, City have also tabled a £58m offer for Juventus and France midfielder Pogba and are pursuing Wolfsburg’s £30m-rated Belgium winger De Bruyne.

They are also ready to join the race for Marseille’s £22m-rated midfield enforcer Imbula, who is already being tracked by Tottenham and Premier League champions Chelsea.

But City’s immediate focus is on securing a deal for Sterling, whom they are ready to hand a five-year contract worth £190,000-a-week - almost double what Liverpool are offering him to commit his long-term future to them.

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The Etihad club's top brass expected their initial £30m bid for Sterling to be rejected, but will submit the revised offer with a warning that they will go no higher, testing Liverpool’s resolve to keep the wantaway youngster.

Meanwhile, Marseille president Vincent Labrune has confirmed a flurry of interest in France Under-21 international Imbula from top European clubs.

“Today, Imbula has four or five clubs after him,” said Labrune. “We have offers for several players.

“If we have an offer that we like, we will open the door. We have never had as many offers for as many players as we do now.”