Schmeichel has made it clear enough that he wants more European football, I think he specified that he wants more Champions League football before he finishes.
He knows he's not getting that here next season at least. So he's got a decision to make on whether he's happy to stay here another year and then be a free agent to pick where he goes or move on this summer.
As he turns 36 later this year, he can't hang around. I think it's probable that he has already made it clear to the club that he'd like a new challenge either this summer or next. Either that, or the comments he made weren't true and he'll be happy to sign an extension here and remain until we decide he's not good enough any more.
The other factor is his salary. He's reportedly on £130k week which is the 4th highest keeper salary in the PL (according to spotrac). If he leaves this summer, who will pay him what he'd earn staying here?
I think that there would be plenty of clubs in Denmark or other countries that would take him and offer Champions League football but they're not paying him £130k a week.
On the club side, we haven't been linked with any keepers which I'd expect by now if we knew we were replacing him. BR has spoken about needing more physicality next season so it may be that a new keeper is part of that plan. I'd say it's 50/50 whether he stays.
What I think is definite is that we don't have an in house replacement. Ward is shit. Jakupovic is old and just a back up of a back up. Iversen is doing well but the word on the street is that our preference is to sell him this summer for £5-£10m as we don't think he fits the bill to be our first choice keeper. That's mainly down to his poor ability with his feet.
So until I see us linked with a new keeper, I think we can assume Schmeichel will be the number one next season.