FC Augsburg Front Office
Ragnar Klavan impressed against Liverpool for the Bundesliga side in both legs of last season’s Europa League tie.
Germany's new deal will generate €4.64 billion for the nation's top two divisions.
Augsburg coach Markus Weinzierl is expected to take over Schalke.
Baba Rahman played 31 games for Augsburg last season after joining from the German second division side Greuther Furth.
Kicker previously reported that Augsburg were seeking €25 million for Baba Rahman.