Tottenham target Max Meyer rejects new Schalke contract and could be available at knockdown price

Tottenham Hotspur target Max Meyer has confirmed that he has turned down the offer of a new contract from Schalke and is expected to leave the club this summer.

After a season where his performances were criticised by Schalke head coach Markus Weinzierl, Meyer's future at the club has come under severe scrutiny. He admitted during the 2015-16 campaign that he was unsure if he would carry on playing at the Veltins-Arena for much longer.

With just one year left on his current deal, the 21-year-old now says an offer to extend has been rejected.

He told Bild: "I have an offer to extend, but with my management we decided not to accept it."

Should Meyer leave Schalke this summer, he insists a move to Bundesliga rivals Wolfsburg is "not an option."

Tottenham attempted to sign Meyer last summer, only to have their offer turned away. Speaking last November, Meyer revealed Schalke had been approached by the Premier League side, adding: "I know there was interest and the club was asked, but Schalke immediately put a stop to it so the matter was settled. Of course I have dealt with it. I know what I have at Schalke and I like to play for this club."

According to Bild, that offer from Tottenham during the final days of the summer transfer window was worth €45m (£39m, $50.6m).

Given his disappointing form and expiring contract, Meyer's stock has fallen dramatically in Germany, however. Bild now reports he will look to leave the Bundesliga this summer with Schalke also receptive to the idea of cashing in while they still can. With just 14 months remaining on his contract, the club would settle for an offer of €20m.

Last summer, Schalke lost a key player on a free transfer in Joel Matip, who left the club at the end of his contract to join Liverpool. This summer, Sead Kolasinac is also poised to leave having let his contract run down. His move to Arsenal is expected to be confirmed soon.

The German side will run the risk of losing a player for nothing again next summer in Meyer – unless they cash in on him during the forthcoming window.