The teen will leave Real on-loan in January, but it won't be to Gladbach.
"For two years, Odegaard was the most watched young player in Europe, a great promise and he finally chose Real Madrid," said Eberl.
"Now we can say that it was a bad transfer, but he is not 18. He should seek a club to express his talent.
"But now, I think we are not the best choice for him."