The 20-year-old German international was strongly linked with a move to Arsenal throughout January, although the Gunners were unable to reach an agreement, despite sending a team to Germany to negotiate a deal.
Draxler has a £37million release clause in his current contract with the Bundesliga club, although Arsenal were understood to be unwilling to meet the fee.
Now Heldt has admitted it was not just Arsenal who attempted to sign Draxler last month, claiming a bid “came from a club to the north of us.”
With London being no further north than Gelsenkirchen, the suggestion is that the offer came from either Bundesliga rivals Wolfsburg or a club in Russia.
Wolfsburg sold Diego to Atletico Madrid on deadline day, and therefore may have targeted Draxler as the ideal replacement.
“It had the dimension of a transfer that you don’t do any day of the week,” Heldt said.
“It was certainly a decent offer, but it wasn’t sufficient for us. We told Julian our opinion, and that was that.”
Draxler has spoken for the first time since the close of the transfer window, and while he admitted he was aware of Arsenal’s interest, he has insisted he remains happy at Schalke.
“The fact is, Horst Heldt had offers for me this winter,” Draxler said.
“I’m happy about that. On the other hand, it shows the respect I enjoy at this club, even if Heldt refuses without me being asked.
“I wasn’t too aware of everything that was going on in the media because I was concentrating on getting back to fitness.
“Of course I wasn’t completely unaware of everything that was being said but I know the truth of the story so I didn’t let it drive me crazy.”