The Germany international is now set to become one of the most attractive free agents on the market after seven years with Dortmund.
Brandt has made more than 300 appearances for the Bundesliga side and remains highly rated across Europe.
Aston Villa and Newcastle United are both credited with strong interest from the Premier League, while Inter Milan are also monitoring the situation.
Spanish clubs including Barcelona and Atletico Madrid have also been linked.
Brandt’s experience, technical quality and ability to play across midfield and attack make him a valuable option for clubs seeking value in the market.
Any move would likely require a major signing-on fee and significant wages, but the lack of transfer fee increases his appeal.
With several clubs in the race, Brandt is expected to have no shortage of offers this summer.