The Senegal attacker went through one of the toughest seasons of his career, struggling for his best form in front of goal.
Rumors in the English press suggest Mane may move on this summer as manager Jurgen Klopp refreshes his front line.
But McAteer believes Mane still has a lot to offer the club.
The former Reds midfielder told Goal about the Mane transfer gossip: "I can't see Sadio leaving, it's been a difficult time for him, and he'll be the first to admit that he's struggled to find form.
"When you look at the past five seasons for Liverpool and Senegal, he's played a ridiculous amount of football.
"He hates coming off, he wants to play in every game, and he travels the world when he plays for his National side. It's going to take its toll, with Liverpool most weekends you can pick their strongest team and Sadio Mane would always be in that.
"Liverpool haven't had the luxury of being able to rest him properly and it's been very tough for him. I think we've just seen a tired Sadio Mane, physically and mentally which is why we aren't getting the performances we expect of him or he expects of himself.
"I see him being a part of next season, there was no rest for him, he went from winning the title straight into the new season. Having a summer off will help him, so having that time to recharge the batteries will do him and the rest of the squad a world of good."
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