The Gunners impressed in a 5-2 victory over Leicester last time out, but would be embarrassed at the hands of Olympiacos midweek in the Champions League.
Ranieri was responsible for bringing the 19-year-old to the Principality in 2013 during his time in charge of Monaco, signing him for £3.5 million from Ligue 1 rivals Lyon.
Although Sterling is only a year older than Martial at 20, he is already a key worldwide player with a lot of Premier League experience under his belt and was a influential force in Liverpool’s second-place finish two seasons ago.