If you are looking at it from a financial point of view then does it make more sense to sell Mo and bring in one of the high profile forwards who will be available in the summer on a free. Players who are younger and have the potential to be sold in the future for huge transfer fees.
Sure but that's not how we operate.
What you've written here is true of about 7 of our players.
We've got a group of players that now cost us a lot more in wages, whose value has greatly increased and whose value will be decreasing the longer we keep them on the books and who could be replaced more cheaply - its pretty clear from their recent decisions that maximising financial value on the players isn't the clubs chief motivation
I get the point your making about his transfer value in the wage conversation and maybe it puts a ceiling on what they can offer him ... however a number of factors do that.
As I've written more than once - people (including Salah) keep saying 'pay him what he's worth' but the context is he's already clearly the highest paid player in the squad (and in our history) and a) is almost certainly getting offered more and b) almost certainly would be able to get a higher wage elsewhere
So to me it will come down to him accepting less wage than he can get elsewhere... if he doesn't do that he won't stay and I can't see anyway the club can solve that problem.
His transfer value is only a factor now if he rejects their best offer... in that case they can't let him leave for free in 18 months because that is maybe an 80 million hit or something and that's surely beyond what the club could responsibly tolerate