The 27-year-old returned to his former club on loan from Arsenal last month and was instantly made the club’s captain.
Kolasinac feels an affinity towards the German giants and is believed to be keen on staying at Schalke beyond the end of his loan stint.
Schalke are also keen to keep him and would ideally like the left-back to stay at the club for the rest of his career.
But according to German outlet Ruhr24, the chances of Schalke keeping Kolasinac at the club are solely dependent on the club staying in the Bundesliga next season.
They are rooted at the bottom of the league table and are fighting to survive in the top tier of German football.
Relegation to the second tier will end Schalke’s hopes of keeping the defender as they would not be able to afford his wages.
Schalke will still face an uphill battle to keep the defender even if they survive as financial struggles mean they might not be able to pay the transfer fee Arsenal are likely to demand.
The German club will rely heavily on Kolasinac greasing the wheels and possibly agreeing to take a pay cut in order to help the club to land him in the summer.