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Hamburg chairman Carl-Edgar Jarchow has admitted their interest in AZ Alkmaar star Rasmus Elm.
Elm is also understood to be a target for Manchester United and Liverpool.
Hamburg have also previously been linked with a bid for the 24 year old Sweden international, who joined AZ from Swedish side Kalmar FF in 2009.
Hamburg-based billionaire Klaus-Michael Kuehne is reportedly ready to help fund the deal.
"We are talking frequently [with Kuehne] and we are talking about many things," said Jarchow.
"Elm is definitely a player that has been making our shortlist."
