Manchester United have the edge over Liverpool and Chelsea after manager Ole Gunnar Solskjaer identified the 20-year-old Sancho as his primary target in an effort to add attacking reinforcements, reports ESPN FC's Rob Dawson.
Dortmund are hopeful that Liverpool and Chelsea will ultimately challenge United and spark a bidding war that drives the price up to their €130-million (£119 million) valuation, Dawson adds.
It's also possible that United will be the only realistic contender. Liverpool are reportedly reluctant to meet the German side's demands, while Chelsea have already committed €44 million (£40 million) to sign Hakim Ziyech from Ajax.
Additionally, Manchester City - the England international's former team - will have the right to match any offer accepted by Dortmund as part of their agreement from the sale of Sancho for £8 million (€8.75 million) in 2017.
This season, Sancho scored 14 goals and provided 15 assists in 23 Bundesliga appearances before European football was brought to a halt by the coronavirus outbreak earlier this month.