Schalke management will discuss Leroy Sane's situation this Wednesday.
Schalke director Christian Heidel, coach Markus Weinzierl and Sané adviser Jürgen Milewski are due to meet to consider the player's future.
On the table is a €50 million bid from Manchester City and an offer from Bayern Munich, says BILD.
Bayern's proposal is for first refusal on Sane, who would stay with Schalke this season before moving in a year's time for €37 million.
Should the latter option be accepted, Sane would sign a pre-contract with Bayern next week.