Norwich City winger Milot Rashica will not be signing for German side Schalke this summer, although he is looking for a return to the Bundesliga.

That's according to Sky Germany journalist Dirk Schlarmann, who reported on his Twitter account that the Kosovan is keen on a swift return to the league he left to join City, but that the Miners don't have sufficient funds to sign him.

Outgoings are expected to dictate the amount of business the Canaries can do this summer, with their relegation hurting them financially.

Rashica arguably boasts one of the highest values in Dean Smith's squad, having moved to Carrow Road for around £9million in 2021.

Smith has historically been a big fan of the 25-year-old, with reports claiming that he tried to sign him with Aston Villa a year before he came to England.

Rashica's 2021-22 season was inconsistent, however, as he scored just once and made two assists in 31 Premier League appearances as part of a side that struggled throughout the campaign to create chances.

The winger is highly regarded in the Bundesliga, having spent four years there with Werder Bremen, scoring 21 goals in 87 appearances.

If City are looking to cash in on their asset to fund spending, that could well be the market where they extract the most value because of this.

Norwich sporting director Stuart Webber told official club channels last month that "we don't have a lot of money, but we do have the ability to do a couple of things.

"Then it might depend on what we do with outs," he said. "As always, when you go into a summer after being relegated there's uncertainty.

"Some Premier League clubs want some of our players. They'll all want to stay in the Premier League, that's obvious. If we sold one or two that'd help us to do other things but we'll be doing some bits of business.

"What we have to understand is that Championship-wise we have a very strong squad, both in terms of quality and depth."