The 16-year-old goalkeeper rejected the Toffees’ three-year professional contract to sign with the German outfit as a free agent.
The Magpies and Barcelona were also keen on Rose, but he only wanted to move to Schalke as he believes the club can help him become the best goalkeeper on the planet.
Rose will become the first non-German youth goalkeeper at Schalke and their first-ever English/Irish youth player.
The teenager was with Everton U18s last term but wasn’t able to make any appearance as he was behind Jack Barrett, Jack McIntyre and Zan-Luk Leban in the pecking order.
The would-be Newcastle owners wouldn’t be gutted to have missed out on the young goalie, though, but it’s clear that they are planning for the future ahead of their imminent arrival at St. James’ Park.
The Toons have already been linked with some of the biggest players on the planet ahead of the summer transfer window, and the fans can’t wait to see the quality of signings the club will start making post-takeover.
It’s been already 12 weeks since the Premier League started carrying out its Owners’ and Directors’ Test on Saudi Arabia’s Public Investment Fund, PCP Capital Partners’ Amanda Staveley and the Reuben Brothers, and a verdict on the trio’s £300 million bid is expected to be taken in the coming days.