Elversberg's preference is a permanent transfer. A loan move remains an alternative if a full sale cannot be agreed. Borussia Dortmund are informed of the interest and are open to selling Campbell, who is contracted until 2028, and are seeking to include a buyback option or sell-on clause in any agreement, according to Ruhr Nachrichten.
Campbell's loan to TSG Hoffenheim last season ended disappointingly, and Dortmund are now looking to move him on in the summer window. Celtic have also registered interest in the player, giving him options across two different leagues.
For Elversberg, who secured promotion to the Bundesliga, Campbell would represent an addition with both Bundesliga experience and the potential to develop further in the top flight. The club's ambition to compete seriously in the division is reflected in their pursuit of a Dortmund academy product who, despite the setback at Hoffenheim, retains considerable potential.
Campbell is a promising talent whose trajectory has been disrupted by an underwhelming loan spell, and a move to a Bundesliga side where he would be expected to contribute regularly from the start offers a chance to reset his development. Elversberg's promotion means they will be competing at the top level of German football for the first time, and the ambition to sign a Dortmund academy product reflects the club's intentions.
Celtic's involvement adds an alternative path that would give Campbell European football experience in a different environment. Whether he prefers to remain in Germany or take the Scottish route will influence how negotiations develop in the coming weeks.