Newspaper reports suggested the 17-year-old winger had opened contract talks with Liverpool already and was poised to reject the club's terms, to request the £50k-a-week deal.
However, the player himself took to Twitter to set the record straight, labelling the reports as 'rubbish' and describing the reported figure he asked for as a 'stupid amount'.
Sterling said on the micro-blogging site: "morning tweeps I've just woken up to this rubbish i can assure you I've not asked for that stupid amount where waiting till I'm 18 2 sign"
The Liverpool attacker has eight months to run on his current deal - worth £2,000 a week plus appearance bonuses - and has clubs keen on luring him away from Merseyside.The reports which claimed Sterling had asked for the new deal also said Liverpool have been preparing terms in the region of £20,000 a week.
Sterling turns 18 next month and is due to open contract negotiations with the club after his birthday.
Liverpool manager Brendan Rodgers has praised the youngster's recent performances, saying: "He has been fantastic this season since he has broken in. It’s a great effort by him."
Sterling was recently included in Roy Hodgson's latest England squad and has recieved plenty of plaudits for his impact in the Premier League.
Liverpool signed him from QPR in 2010.