Sauber are yet to decide who will partner Nico Hulkenberg, who they will sign from Haas, in their other car.
Valtteri Bottas remains upbeat that he will get the nod to stay.
But Schumacher was spotted in talks with Mattia Binotto, the Chief Operating and Chief Technical Officer of Audi, inside the paddock at this weekend’s F1 United States Grand Prix.
I told him that nothing has been decided yet,” Binotto told Sky Germany.
Binotto confirmed that Schumacher is on the shortlist of options.
“But I can’t say more about it at the moment,” he said.
Ex-Ferrari team principal Binotto knows Schumacher well. Schumacher drove for Haas for two seasons, who used Ferrari engines.
“I think we get along very well,” Binotto said.
“It has to be a decision of the mind, not an emotional decision.”
Binotto’s team will run as Sauber for 2025 before evolving into Audi in 2026 when the new engine regulations begin.
Audi, a massive Germany-based manufacturer, have already signed German driver Hulkenberg.
Adding Schumacher – the son of F1 and Germany legend Michael Schumacher – would give their project an even higher profile.
But existing driver Bottas remains confident of keeping his drive.
Bottas told Motorsport Week in Texas: “We’re still waiting for the final decisions. I think that question is more for Mattia to answer, rather than me.
“We’ve been in touch on [a] weekly basis, and I know the terms that I’m up for and am just basically waiting for the green light.”