Wolfsburg sign Julian Draxler on five-year deal

Wolfsburg have announced the signing of Schalke 04 midfielder Julian Draxler.

The Germany international has been on the radar of a number of European clubs this summer, but the 21-year-old has opted to remain in the Bundesliga by joining Dieter Hecking's side on a five-year deal.

"There were two reasons why we agreed to this deal," said Schalke sporting director Horst Heldt in a statement.

"We will not comment on transfer details but can say that it is the transfer with the highest revenues generated in the history of our club. We also met the specific wishes of Julian to change clubs."

Draxler made 119 Bundesliga appearances for Schalke having originally joined the club's youth ranks in 2001.