It had been reported that Manchester United were keen to sign the star in the summer, but that he would cost upwards of £100m for anyone to strip him away from Dortmund.
The German side paid just £7m for the Englishman back in 2017 when he left Manchester City due to a lack of game time.
But after breaking into the first team and becoming a key figure in Gareth Southgate’s most recent England squads, it has been heavily rumoured that Sancho will leave.
And despite the heavy interest from both Manchester sides, Hamann believes Liverpool will be keen to challenge for his signature.
Jadon Sancho has emerged as one of the best wingers in the world (Image: GETTY)
“What I hear is that Liverpool have great interest," Hamann told Sky Germany.
"I would imagine that next summer they could become one of the biggest interested parties.
"He's from Manchester City and I do not know if he would come back again, and it's a thing for Manchester United, too, if they've ever been to the rivals.
“Sancho does not have a release clause.
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Jadon Sancho is having a great season for Borussia Dortmund (Image: GETTY)
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”If Dortmund say that they want an astronomical amount, it will not happen.
"There are currently few players that could reinforce [Liverpool's] offensive [line-up].
"I don't know if Sancho's such a player, but maybe if there's one going away from those three, then Sancho would be predestined for this offensive alliance."