Dortmund chief says Man Utd's Sancho would cost too much to keep
Sancho returned to Dortmund on loan in January after struggling at Old Trafford following a big-money move in 2021.
He had been frozen out of the first team following a public falling-out with United head coach Erik ten Hag.
"In the end, it will take money, a lot of money. Definitely more than we have at the moment," Kehl told German TV channel Sport1.
"We got over 80 million euros for Jadon. Manchester United will, of course, have an interest in either taking him back in the summer or selling him again in a deal that makes sense for them. Whether that also makes sense for us will be the next topic."
Sancho has been a regular starter under coach Edin Terzic since his return to Dortmund, but the 23-year-old Englishman remains a long way short of the scintillating form he showed as he amassed 50 goals and 64 assists in 137 games in his first four-year spell in Dortmund.
Kehl also said keeping Chelsea loanee Ian Maatsen would also be a challenge and the club needed to qualify for the Champions League.
Dutchman Maatsen also joined Dortmund on loan in January until the end of the season.
"Chelsea have neither economic problems nor a problem finding a place for him in England," said Kehl.
"We will of course make the effort but we will also have to wait and see how things develop. For us, qualifying for the Champions League is very, very important."
Dortmund are fourth in the Bundesliga, a point ahead of fifth-placed RB Leipzig.