Sports director Schalke Christian Heidel announced the sale of Kerer in PSG.
"The financial aspect of this transfer is such that Schalke could not refuse," Heidel said..
According to Bild, PSG and Schalke negotiated three weeks. Initially, the Parisians offered 18 million euros, and Schalke asked 40. As a result, the parties agreed on 37.
Shortly before this extension, Kerer was ready to extend the contract with the "cobalt".
"Without a proposal of this size, Tilo would have extended the contract with Schalke, it is certain," added Heidel.
Last season, 21-year-old Tilo Kerer played in 28 Bundesliga matches and scored 3 goals for Schalke.
Earlier PSG attributed interest to another German defender - Jerome Boateng.