Sharp, 25, has netted four goals in nine starts for Rovers this season despite coping with the death of his infant son.
Jewell said the Tractor Boys would offer a transfer fee which means the Yorkshire club have to allow Sharp to talk to the bidders if he wishes to do so.
"I don't want to lose Billy, he scores goals and that's hard to come by. I am hoping he will stay with us, he is looking sharper every day and looking as if he has a weight off his shoulder. Hopefully he keeps banging them in and we get in a good position," said Saunders.
Saunders, who replaced Sean O'Driscoll after a tough start to the season for Rovers, was unhappy with Jewell's public pursuit of the former Scunthorpe forward.
"You should speak about your own players and that should be it. It's not something I would do," he added.
"But Billy has had bigger problems than that and I am sure he can deal with it."