The 26-year-old England international has started just two of Manchester City’s six games in all competitions this term.
Sterling also lost his regular starting berth at Man City in the second half of the 2020/2021 season but impressed at EURO 2020 where he was one of England’s best players in their run up to the final.
Ferdinand believes Pep Guardiola is wrong for sidelining Sterling and has asked Liverpool and Manchester United to tempt him with an offer.
"Where is Raheem Sterling? He’s lost confidence because he’s been taken out of the team," Ferdinand said on his FIVE YouTube channel.
"He was the go-to guy when they needed a goal, for so many years, and now all of a sudden he’s in the wilderness.
"I’m baffled by it, I just don’t understand. With Pep, he gets things right more often than not, but with this one there must be clubs sitting there going ‘let’s see how this pans out because I would take Sterling all day!"
Ferdinand added: "If I’m Liverpool, I’d buy Sterling tomorrow … If I’m him, I wouldn’t go to Barcelona or Real Madrid right now, that’s why I said Liverpool … Man United will take him!"
Sterling joined Man City from Liverpool for £50m in the summer of 2015 and he has won three Premier League titles, one FA Cup and four League Cups in his time at the club.