Calhanoglu has burst onto the scene since returning from a loan deal at Karlsruhe, scoring eight goals in 24 games from midfield - including this stunner against Borussia Dortmund last month, as Calhanoglu struck a sensational long range free kick, proving his devastating set piece abilities.
At just 20-years-old, Calhanoglu has a bright future and his great potential has attracted the interest of a number of clubs, including Premier League rivals Arsenal and Liverpool, though Roberto Mancini's Galatasaray are also a possibility for the Turkish international.
But German newspaper Bild has reportedly learned that Hamburg, now managed by Mirko Slomka, are in no rush to sell Calhanoglu, and have allegedly placed a whopping €20m price tag on Calhanoglu - but would either Arsenal or Liverpool pay that much for him?
The Gunners will no doubt be looking to add more attacking players in the summer after their failed chase of Schalke playmaker Julian Draxler in January, and Calhanoglu - a fellow Bundesliga midfielder - could be a cheaper alternative to Draxler, and with much less expectation on his shoulders upon arrival.
Meanwhile, Liverpool boss Brendan Rodgers has been seeking wingers or playmakers for some time now, but missed out on Mohamed Salah and Willian to Chelsea, whilst Henrikh Mkhitaryan moved to Borussia Dortmund instead of Anfield. With Calhanoglu's ability to play out wide as well as behind the strikers, he could be an appealing option for Rodgers - even at €20m.
Calhanoglu's German-Turkish roots have seen him compared to Mesut Ozil, and whilst the Arsenal star has had his critics this season, the potential of getting another Ozil could be tempting for a number of clubs - including the Gunners.