Raheem Sterling's £49m price tag: Madness or sound value?

It's a colossal amount for a still-young player with a lot to prove - particularly when you factor in a wage package worth up to a reported £200,000 a week.

But given the new rules on English players in Premier League squads, some argue that Manchester City have paid a fair premium for a top class player.

We've rounded up the views of pundits, players and journalists to show the spectrum of reaction to what will likely be the most expensive transfer deal of the summer.

The Liverpool Echo's Andy Kelly is a worried man, calling it a "necessary evil" and a "gamble".

"The desperate, unseemly and reputation-destroying tactics of Sterling and his agent Aidy Ward to secure his move to the Etihad should not mask what a loss the player will be. Their actions put the ‘necessary’ into the transfer but do not make it any less ‘undesirable’.

"The other great undesirable of this deal is Sterling’s new home. Weakening your own team is one thing, strengthening a key opponent’s quite another."

Rio Ferdinand also said that City have done some solid business, assuming the player develops to address the flaws in his game.

Jamie Carragher suggested the opposite, saying on Twitter that he "wished Liverpool bought players as well as they sold them, and writing on Kicca.com that, "Raheem Sterling is a very good young player but he has not yet hit the heights of an Owen, Rooney, Fowler or Giggs at this stage of his career so there's no doubt £49m is a great deal for Liverpool.

"It's now time for Raheem to do what he does best play football & show the Premier League the Sterling who was described as 'The best young player in Europe' just over a year ago & you couldn't argue that fact at the time. I think he has the potential to be a star & one of the leading lights in the national team for years to come," Carragher added.

"Credit to [Liverpool owners] FSG who have showed great strength in these situations since they come to the club which sends a message to other clubs & current players. Surely in the future though they will want to halt the exodus of Lfc's top players moving on."

The Sun's Martin Blackburn takes a very different line, describing Sterling as a "bargain buy."

"The 20-year-old whizkid is just what boss Pellegrini needs when you recall the problems his side suffered during a difficult last season. He is English, young and rapid, for starters," he wrote, referring to the English player quota issue.

"Barely out of his teens, Sterling will help City bring down the average age of the oldest squad in the Premier League. The club will see Sterling as one for the present AND the future — a player who potentially could shine for them for the next decade and ensure they get their money’s worth...

"Put simply, he ticks a lot of boxes for the ambitious Etihad club — but what a premium they have had to pay for it. "

In the Daily Telegraph Chris Bascombe speaks about the fee - but also fears for what Liverpool will do without a key player, and the worrying signal the sale sends out

"Liverpool are reluctant sellers, but there is a degree of astonishment at the fee they have received for a player they signed as a 16-year-old in 2010. For City, the signing of one of the most highly rated youngsters in Europe is a statement of intent ahead of the new season," he writes.

"Although Liver­pool have received an incredible price for the player, there will be some concern at Anfield at the number of top performers they have lost in recent years as a lack of Champions League football again costs them a talented star."

Manchester City legend Franny Lee echoed that view on Twitter.

But Liverpool stars of the past queued up to crow about the deal, with Jason McAteer suggesting that Sterling won't even play in the City first XI.

It was former Tottenham star Rodney Marsh who probably said it best, however:

The Daily Mirror's John Cross took a very different angle, defending Sterling for his much-criticised moneygrabbing.

"Sterling’s £49m move to Manchester City is about money, but it's also about ambition and determination to become a better player," he wrote.

"He is fiercely ambitious and believes he must be playing at the top level to realise his potential for his England career. Sterling’s camp pushed hard to get the deal done because the 20-year-old no longer felt Liverpool was the best place for him.

"Former Kop stars queued up to criticise his stance towards a club with an illustrious past. But ­Sterling is interested only in his future."

The Eurosport office is split on this one. Some firmly believe that City have overpaid by a good £30m, others insist that the premium they've had to shell out for the fact that Sterling is English is actually about right.

But one thing everybody agrees on is this: Liverpool might have landed themselves a big transfer fee, but who will they be able to spend the money on who will genuinely fill the gap left behind?