Schalke management accept Sead Kolasinac is leaving.
The fullback has been linked with Manchester City and Chelsea, along with Juventus.
"Of course, we are already looking at the market in order to be prepared for the event that Kolasinac does not extend," said S04 chief Christian Heidel.
"There will certainly be a decision soon."
Interestingly, Schalke could again seek to sign Abdul Baba Rahman from Chelsea, who was injured on-loan with S04 this season.