Sako, 26, is out of contract in the summer, and has scored seven goals in 23 Championship games this season to fuel speculation of a potential winter move.
Aston Villa have been linked to the in-form winger’s signature since October, as the likes of Sky Sports have reported, while the Daily Mail have also named West Bromwich Albion as possible chasers, although Wolves are still to receive a bid at this point.
Nevertheless, Jackett has a gentleman’s agreement with his star man that, if a top-flight offer comes in, the pair will talk about it, and admits it could lead to a potential departure in the near future.
"We've had some transparency with Sako," he said. "We've said 'look, if a Premier League club comes in for you, we'll speak to you'.
"And because of that, we've got the best out of him.
"We haven't had a bid and we don't want one but if a Premier League club makes the right offer, we'd speak to the player."
However Jackett has also stressed that Wolves are under no pressure to sell the Mali international, adding: "We paid £2.5million for him, but there's no desperation to sell him.
“Steve Morgan and Jez Moxey would love him to see the season out and then talk in the summer. Sako is relaxed about the situation."
Signed from Saint-Etienne in August 2012 for £2.2 million, Sakho has racked up 30 goals in 106 total appearances at Molineux, having stuck with the club during their past season in League One.
At the African Cup of Nations at present, Villa’s recent failure to reach an agreement with Manchester City for Scott Sinclair could well see them ramp up their interest in the French-born wide man over the coming week, but it remains to be seen whether manager Paul Lambert would have the funds to make a deal possible.