Sport1 says Liverpool will only be able to afford a bid for Sancho on one condition.
Sancho, 21, is expected to be available for a fee in the region of £85million this summer, which is markedly lower than Dortmund's nine-figure asking price last summer.
Nonetheless, the cash-strapped Reds will only be able to stump up such funds if they sell Mohamed Salah.
That's according to German journalist Raphael Honigstein, who said: "I cannot imagine Liverpool, especially since the money for a Sancho transfer is simply not there. A new dynamic could only come into the matter if Mo Salah leaves."