It is, but it’s high, compared to what defenders and goalkeepers go for. Point is, they went for the best available for what they needed.
I don’t think they will go for Sancho, but that’s more because they don’t need him. If they did, K reckon they would pay up.
I believe financial outlay is down to needs with a preset cap of what each club is prepared to spend irrespective [for them] of position - there's a point where only elite clubs can afford a certain bracket of player whilst others get priced out of the market. For Liverpool, those two signings were meeting a specific need of theirs with nobody challenging them for the players, which means they could negotiate a fair wage and not have to meet the bar of what others would offer. Further to that, neither Van Dijk or Alisson were going there as superstars who would break the wage structure already in place at the club. There's a lot more to think about that just the acquisition of Sancho as you run the risk of upsetting the established star players already at the club if he comes in even on parred wages with them, let alone the higher wages it would cost them in an open market. Salah would have every right to immediately demand parity or to be placed higher as an immediate by-product. This isn't an issue for clubs with a structure in place and hierarchy that accommodates new, top tier talents as they are dab hands at the top end of the market, and at the highest banding, Sancho won't get near the top earners to upset/disrupt the squad in the same manner.
With all of the above considered, Liverpool would have to be Sancho's preference above all others at which point they could work out a package that is satisfactory to the player whilst keeping a better grasp of the established financial order they have in place. Other than that Liverpool's current preset would be shattered in terms of both the purchase and the competitive wage package they would have to put up in an open market sale - it would be a pivotal moment for them as a club to do so without selling other stars they have because it will break their wage structure and be a signing that costs them 10's of millions more than just the player himself being bought and his wages paid.
Let's not go too overboard with Sancho, aye he is a talent but he hasn't even reached Rashford or dembele levels yet. I don't think Madrid will be convinced as of yet. Also in epl he won't come in straight away and shine with more physical and higher tempo levels than Bundesliga. I could be wrong but I don't think at this moment he is there yet. Memphis is a prime example just in front of our eyes.
That's in the eye of the beholder and the crux of the matter is what Dortmund and suitors think he's worth. If you believe this is one of
the generational stars of the 2020's, you will pay in accordance with that; if others think the same and the player has no club preference, then it's a jackpot scenario for Dortmund as they sit back and watch the bidding war inflate his worth.
Whether he's reached Rashford's level (this would have been seen as risible just a couple of months ago, btw) or Dembele's is going to be a matter of opinion. Even if he is in the same ballpark as Dembele, then that's already a player worth c. £120m.
I would say you're paying three by three for Sancho as a buying club: 33.3% is what he is now 33.3% for his [assumed] exponential growth as a player and the remaining 33.3% because of his age and the potential years of service or even sell on value it brings with it.
Same thing goes for most of these prodigies as you can never really know how things will pan out for them unless they're already doing the business in the final destination league (see why Bayern shouldn't be ruled out). The element of risk is off shot by the potential reward if the player not only delivers but actually enhances his new team and adds even more value to himself as an asset. There's also marketing potential to think of - clubs don't make these kind of purchases lightly and each individual case comes under the scrutiny of a lot of esteemed football people before the hat is thrown into the ring.
You mentioned Depay, which is a weak comparison to Sancho in terms of level they were performing at because of their respective leagues, but even if we use the Eredivisie here, look at what's just happened with De Jong and what will happen with De Ligt. The former was sought after by City, PSG and Barcelona, and I'm sure others inquired but couldn't even get their head through the proverbial door so quickly 'dropped out of the race'. He had his choosing of club and turned down what was no doubt a better financial package from PSG in preference of Barcelona. He was sold for €75m despite doing far, far less than Sancho has to date. De Ligt will go for something similar, again coming from the Eredivise and not having an amazing, undoubted body of work to say he is a sure thing. Sancho, as an attacker, doing more in a better league, is easily going to trump the sale price and wages of either of these two. He also plays in a position that is weak for a number of teams if not now then in the very near future, which pushes his worth up even further.
We also shouldn't forget that it's only January. If the season stopped right now, he'd already be worth an astronomical amount; if he gets better, which it looks like he will do, his value will rise exponentially. His form would have to absolutely fall off a cliff for his valuation to become more 'realistic' or in keeping with what people with doubts about massive outlay for 'untested' youngsters think he should be going for.
I think pursuit of him is a no-brainer until he says no to your club. City, Barcelona and PSG have superior and more proven players than him on the right at the moment, but even then, from those clubs barring City, he should be a viable option given they can all move their right-sided player infield and have Sancho out on the right. Given all the factors, he has the potential to be the most expensive sale of the summer unless one of the established elite make their move this summer (a Kane, Neymar, Salah or Pogba). Outside of those kind of players, I don't see anyone getting near Sancho in terms of valuation in an open market.