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Just how high can Jude Bellingham's price go?

Jude Bellingham's form this season is pushing him to a new level, says Raphael Honigstein.

Raphael Honigstein joined The Football Show to discuss Jude Bellingham and Liverpool's interest in him.

Jude Bellingham is at another level.

Despite Erling Haaland's departure and Marco Reus's absence for most of this season so far, Bellingham is excelling in a more forward role for Dortmund. He scored in each of the last two rounds of the Champions League and is a focal point of the team.

Bellingham is still just 19 years of age, but he's the captain of the team in Reus's absence.

His form is comforting for fans who are hoping their team will sign him next Summer. But it also brings more teams into the market for him. Raphael Honigstein believes Liverpool thought they once had a leg up to sign Bellingham, but that is likely no longer the case.

So where will Bellingham go after this season?

"I think it's very difficult to speculate," Honigstein said.

"Liverpool at one stage felt as if they might have stolen the march on the competition. But nothing is signed, there's been no negotiations between Dortmund and any club. Dortmund have made their intentions well-known.

"They only will part with him for a huge amount of money. They talked about €150 million."

€150 million might be the starting point. It might be the lowest end of the spectrum. The World Cup in Winter means that Bellingham can either boost his value or detract from it by January. If he follows up a strong World Cup with a strong run in the knockout rounds of the Champions League, the likes of Real Madrid and Manchester City will push his price to an astronomical place.

That's assuming he does leave Dortmund next Summer.

"A good World Cup with England will only help to lift the price even higher, so I think it's in his interest to wait as long as possible. It's certainly in Dortmund's interest not to make any moves now. It wouldn't make any sense, he's still got two-and-a-half years to run on his contract.

"They're still hopeful, not hopeful in terms of 50-50 or 90%, but there's a sizeable chance he may renew. That might come with a gentleman's agreement or a release clause that will shift the dynamic.

"I don't think it's a forward conclusion that he will leave in the summer."

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Borussia Dortmund Erling Haaland Jude Bellingham Liverpool Manchester City