It had been reported that the 25-year-old would seek a move ahead of next season, but Mikkel Beck has claimed that the Dane could yet stay with the club.
"I have had a brief phone conversation with Klaus Allofs and he told me about Simon's situation at Wolfsburg," Beck told BT.
"He stated that Simon is not for sale. Klaus Allofs said that he wants to keep Simon at the club, even though he has only got one year left on his contract. Even if he is aware that there is a risk that Simon will leave Wolfsburg on a free transfer, he is willing to take the risk.
"From Simon's point of view, it is an optimal situation. If Wolfsburg agree to sell and the right club pops up, it is fine. But, otherwise, he does not mind staying at Wolfsburg during the last year of his contract."
The centre-back has previously been linked with a number of Premier League clubs.