"Julian Brandt has turned down the offer to sign a new contract with VfL Wolfsburg."
"As he is out of contract at the end of the campaign, Julian Brandt will therefore depart from VfL Wolfsburg."
German and English papers have been hinting at Chelsea's interest in the player for a while, with Bild actually providing some quotes from Klaus Allofs that confirm there have been interested English sides.
"The fact that English and Italian clubs want him too, is nothing new. He has been well trained by us. "
With Brandt being out of contract in the summer and Chelsea probably having actual interest, he should probably shoot straight to the top of the list of players to watch during the January transfer window. German sides like Bayern Munich and Borussia Dortmund would not (legally) be able to negotiate with the player before his contract actually expires, but clubs from abroad will have the right to open negotiations with the player as soon as the January window opens. There would also be no significant fee due to the developing club, it would be the standard FIFA training compensation which would cost less than two weeks worth wages due to Fernando Torres.
Brandt is a 17-year old winger/wide forward/midfield player that has looked very good when playing for the Germany youth setup. At the minimal transfer fee he'd require, I'm sure there will be loads of clubs interested in acquiring his services.
The youngster is a phenomenal talent, but he's certainly not one that would be thrust into first team action right away. He'd likely head straight out on loan, probably spending several seasons away from London before he'd make a potential debut. You can never have too much talent coming through the ranks though, and as long as he'd be agreeable to a semi-reasonable wage for someone his age, it would make little sense not to be checking in on him regularly.