Schalke are not interested in signing either Danny Rose or Ruben Loftus-Cheek on loan, contrary to reports.
Sky sources understand the Bundesliga club have set their sights on only one more signing, a left-back, and have a budget or around £6.24m (€7m).
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Schalke are keen to make a permanent signing and are not interested in loan deals and are hoping to finalise a deal for a new defender by the weekend.
Rose has been one of the names discussed by the club, but has been deemed too expensive.
Rose has faced an uncertain future since criticising Spurs' ambition and wage structure in 2017, for which he subsequently apologised.
Loftus-Cheek spent last season on loan at Crystal Palace, and the Eagles wanted him back at Selhurst Park this season but Chelsea blocked the deal, according to Roy Hodgson.
The 22-year-old has made 31 appearances for the Blues since making his debut in December 2014, 19 coming as a substitute, and he has been clear he wants more first-team opportunities at this stage of his development, than he has previously received at Chelsea.
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Chelsea signed two new midfielders this summer, Jorginho from Napoli and Mateo Kovacic on loan from Real Madrid.
Blues boss Maurizio Sarri also has N'Golo Kante, Cesc Fabregas, Ross Barkley and Danny Drinkwater as options in midfield.
The transfer window in Germany closes on August 31.