Sterling, who missed two training sessions last week because of illness, refused to travel to the Reds' pre-season tour.
He is set to complete the move this week but Wenger says he has no regrets.
"It is a good buy for Man City. It looked a done deal for a while because Sterling was adamant he wanted the move,” said Wenger.
"It is an expensive one but they can afford it. We never considered it because he plays in an area where we have plenty of players.
"We have Walcott, Chamberlain, Sanchez, Wilshere who can play wide, Gnabry, so we have plenty of players and he’s a wide player basically, or behind the striker.”
He was adamant though that he there were no hard feelings.
"The situation is very simple," Rodgers said.
"The club has agreed a deal with another club for Raheem subject to a medical that'll go through.
"Raheem and I have always remained very strong in our relationship and that remained the case when we left. There is no issue there."
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