QPR, who were relegated from the Premier League last season, are entitled to 20 per cent of any sell-on fee Liverpool receive for the England forward.
Sterling joined Liverpool from QPR’s academy as a 15-year-old in 2010 for an initial £500,000 with the sell-on clause included as part of the deal.
On Sunday evening, Sky sources revealed Manchester City and Liverpool have agreed a fee believed to be around £49million – made up of £44m up front and a further £5m in add-ons – and if the full amount is paid then QPR would get £9.8m.
Sterling can now negotiate personal terms with City and needs to undergo a medical before finalising a deal which would make him the world’s most expensive footballer under the age of 21.
The player spent seven years in QPR’s Academy between 2003 and 2010 before being brought to Anfield when Rafael Benitez was in charge.
The expected transfer to City would provide a big financial boost to QPR, who filed accounts in March showing a loss of £9.8million during their last season in the Football League – which is the figure they could be due to receive from the Sterling sale.