Raheem Sterling is set to earn an extension to his contract with Nike, which will run until 2023.
Sterling is one of the most marketable and talented attackers in the Premier League.
Nike want to ensure Sterling remains with them, as interest from Puma may sway the talented winger.
The Daily Mail says Sterling has received a three-year offer that would be one of the most commercial lucrative sponsorship deals for a football player in history.
He also has an offer from Air Jordan, a Nike subsidiary, for nearly £100 million, while the Puma offer may be in that range as well.
Sterling is also likely to agree a new deal with Manchester City in the coming months, despite signing a £300,000-per-week contract 12 months ago.