Manchester United and Chelsea have also been presented as potential travel destinations for the player of 20 years old, who has scored 17 goals and provided the same number of assists in 29 Bundesliga matches this season.
Sancho moved to Germany in 2017 after leaving Manchester City and would be valued at more than gbp 100 million.
The boss of Dortmund, Lucien Favre, has spoken of prospective transfers at the end of the season, and the players allowed to leave Signal Iduna Park this summer.
“We’ll see after the season,” said Favre, quoted by The Mirror, who was interviewed Monday on the spending potential.
He added: “of course, the players will leave. We hope that players will remain, but it is possible that players will leave.
“You already mentioned two [Achraf Hakimi and Sancho] we do not really know.
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“Of course, they could stay with us, which would be very good for me. But we will see what we will do, be it in defence, midfield or in attack. ”
Although it is frequently linked, the chances of Sancho moved to Liverpool remain unlikely due to the financial muscle that would be necessary to conclude an agreement.
The Reds have recently chosen not to sign the attacker Timo Werner, who would have a clause of release of 54 million pounds in his contract at Red Bull Leipzig.