The 20-year-old Jeltsch has attracted attention from some of Europe’s biggest clubs, with Barcelona and Inter Milan reportedly making contact through his representatives. Real Madrid, Bayern Munich and Arsenal are also said to be monitoring the Germany international.
A summer transfer fee of €50 million to €60 million has been discussed, reflecting VfB Stuttgart’s desire to secure a substantial return if they lose one of their most promising young defenders.
With interest continuing to grow, Stuttgart are assessing alternatives. Greek outlet Sportime has reported that Retsos is among the players under consideration by the Bundesliga club.
The 28-year-old is captain of Olympiacos and remains under contract with the Greek champions until 2028. His experience in Germany could make him an attractive option should Stuttgart need to replace Jeltsch.
Retsos previously played in the Bundesliga with Bayer Leverkusen, who signed him from Olympiacos in 2017 for a reported €17 million. He made 43 appearances for the German club before a series of loan spells interrupted his progress.
He subsequently joined Hellas Verona in 2022 before returning to Olympiacos, where he has re-established himself as an important figure.
The defender’s familiarity with German football could help ease a potential transition, although Stuttgart’s reported interest does not mean a deal is imminent.
Jeltsch’s future remains the more significant issue for Stuttgart. His development has placed him on the radar of elite European sides, and the prospect of substantial offers next summer means the club must consider its options well in advance.
For now, Retsos is one reported candidate rather than a confirmed transfer target. Much will depend on whether interest in Jeltsch develops into concrete bids and whether Stuttgart decide that selling their young centre-back is the right move for the club.