Sancho has been Manchester United’s top target over the course of the transfer window, but they have struggled to convince Dortmund to lower their asking price for the 20-year-old winger.
Very early in the window, the Bundesliga giants made it clear that they want £108m and they have refused to listen to any reasoning towards lowering that figure amidst a changed landscape that has seen revenue streams dry up for some of the biggest clubs in Europe.
Manchester United are believed to be still keen on signing Sancho, even late in the window, but Carragher feels the club should have moved on to other targets if they do not believe the winger is worth the money.
He insisted that Manchester United do not have to appease their fans by signing Sancho and overpaying for him would seem like an overreaction to a poor start to the season.
And Carragher believes that is not how a club of Manchester United’s stature should make recruitment decisions.
The former Liverpool defender wrote in his column for the Daily Telegraph: “As fine a player as Sancho is, is he worth £108m?
“And what impact would such a deal have on the game time of Mason Greenwood, who looks like the best young attacking talent in the country by some distance, scoring 17 goals last season.
“If United think Sancho is worth it, the deal should have been done already.
“What I cannot understand is if United do not think so, why haven’t they moved on?
“If the deal is not right, regardless of how much it upsets fans, walking away and buying an alternative target can be a sign of strength, not weakness.
“But based on recent history United have a habit of eventually paying what they were quoted months earlier.
“And so the wheel turns.
“If United pay the asking fee for Sancho now, it will look like they have blinked as a direct consequence of criticism following their first Premier League defeat.
“That will play well to the fans, but it is not the way to determine transfer policy or run a football club of United’s stature.”
Manchester United have other targets in mind, but Sancho has continued to remain their priority.
