— Gianluca Di Marzio (@DiMarzio) August 26, 2020
McKennie will join the Italian champions on a €3m loan with an option to make the deal permanent for €18m.
But the Saints have missed out on McKennie with Juventus poised to sign him instead.
🚨 Southampton are out of the race to sign American midfielder Weston McKennie, sources tell CBS Sports.
— Roger Gonzalez (@RGonzalezCBS) August 26, 2020
McKennie, 21, has made his desire to leave Schalke clear and is training separately from his teammates.