Panathinaikos are waiting Schildenfeld's answer next week as they have already offered him a new three-year deal.
However, reports from Croatia claim that Schildenfeld has taken the decision to return to his homeland after agreeing a contract with Dinamo Zagreb.
The Croatian defender, though, played down these reports stating that his priority is to remain at Panathinaikos.
“I don't know what will happen. We're in talks. I've got an offer from Panathinaikos. I'm in talks with Dinamo as well, but I haven't signed yet. We'll see. Since the start of the negotiations I have clarified that I want to carry on at Panathinaikos. This has not changed,” Schildenfeld said.