​Hamburg are bracing themselves for summer bids from Everton and Leicester City for midfielder Walace, despite only signing him in the January transfer window.

​The Daily Mirror claims that the Premier League duo are ready to try and lure Walace to the Premier League in the close season, and Hamburg will have a fight on their hands to retain the 21-year-old regardless of the fact that they only snapped him up a month ago.

Walace only moved to the Bundesliga club from Brazilian outfit Gremio on January 30 in a deal worth around £8m and, depsite only being able to play for his new side twice since, his time in Germany could last just six months if either the Foxes or the Toffees come calling when the transfer window re-opens on July 1.

Hamburger SV - Training Session

Leicester were pipped to the signing of Walace by Hamburg after they were rumoured to have been following his progress for a number of months, but it remains to be seen whether a summer move for his services would be successful if the Midlands outfit crash out of England's top flight just 12 months after lifting the Premier League title.

Claudio Ranieri's men currently sit just one point above the relegation zone and, providing they fall back into the Championship, any prospective bid for Walace would likely be rejected out of hand by Hamburg and the player himself.

Everton, meanwhile, are on the hunt for young prospects to further bolster their midfield options, with manager Ronald Koeman keen to continue improving the Blues' first-team squad at Goodison Park.

The Dutchman already has the likes of Gareth Barry, Tom Davies, Morgan Schneiderlin, Idrissa Gana Gueye, James McCarthy and Muhamed Besic available to him in the centre of the park, and the only logical reason behind a possible move for Walace in the summer would be if Koeman dispenses with one or two of his current options in that area of the field.

Walace is a product of the Gremio youth academy, and featured 72 times for his boyhood club before Hamburg came calling last month. 

The Brazil international helped his former club to the 2016 Brazilian Cup, and also picked up a winners' medal at the 2016 Olympic Games in his homeland last July.

Read more from Tom Power by following him on Twitter!