Schalke admit the 27-year-old could leave in January, but only for at least €10million.
The Peru international’s current contract with Schalke is set to expire at the end of the season and he has recently been linked with a move to Russian side Anzhi Makhachkala.
“Jefferson Farfan is a key player for our club,” Schalke general manager Horst Heldt told Reviersport newspaper.
“Therefore, I would reject any idea like another club coming in the winter transfer window to offer us a compensation of €1million for a deal involving him.
“Still we have to think twice if there is a club lining up a bid that feel that money is not an issue, like Anzhi Makhachkala of Russia for example.
“If such a club offer €10 million or more, we would have to consider that.
“We are aware that there are clubs considering Jefferson Farfan, but we have yet to receive a bid for him from any other club.”
