For #BVB, nothing changes: €120m valuation.
The ‘Gewinnwarnung’ nuance exists at Dortmund, any significant official offer for a player must be publicly notified to shareholders, even if rejected. Zero notifications from Borussia Dortmund GmbH & Co. KGaA on this so far.

While many reported how close the clubs were/are to dealing, it was @MrTomMcDermott who first reported yesterday that the clubs were not as close as some would suggest.

Walking away is a good negotiation tactic to make a seller sweat, but BVB have an extension ready for Sancho should Utd feel the fee is too high. A one-year extension would see Sancho pocket an extra €4m, while also allowing BVB to keep his price high for the next two windows.

Above reported back May (link below) - now for Utd, their approach leaves them in a catch 22 situation, walk away and be left with egg on their face from such a public courting, or cough up and pay despite the extraordinarily high price. https://www.forbes.com/sites/chriswilliams/2020/04/22/jadon-sancho-11-million-extention-at-dortmund-or-a-return-to-england/