André Breitenreiter was relieved of his duties at the end of the season after failing to get the club back into the top four, with him the 14th manager of Die Königsblauen in the last 10 years.
The managerial merry-go-round at Schalke does not deter the front-runner to replace Breitenreiter though, with Weinzierl dubbing suggestions of this putting him off as ridiculous.
Furthermore, he is confident that he can do a good job with the club, and so has no reason to be fearful.
"I have nothing to lose," says Weinzierl
Speaking to Die Zeit, Weinzierl stressed that a coach should not think negatively when opportunities arise - especially when it's an opportunity to manage a club with UEFA Champions League ambitions.
"Should I not take the job because there is a chance I might fail?" Weinzierl said, with him insisting that the job's pressure is not as high as some suggest as he has "nothing to lose" in the role.
"I know that it will not be an easy job," he continued. "If things don't go well, I will be one of so many who did not succeed at Schalke."
However, the manager is confident that he is ready to take on the huge challenge presented by the club, saying things "will not go wrong" as he has "prepared for this for a long time."
Schalke; the next big step?
A young and hungry coach, the chance for 41-year-old Weinzierl to take charge of Schalke would represent the next big step up in his managerial career.
He started his journey with SSV Jahn Regensburg in the 3. Liga, stepping up from the role of assistant to manage the team in 2008. In his fourth and final season in charge, Weinzierl guided the club to promotion to the 2. Bundesliga, which caught the attention of Augsburg.
The fellow Bavarian based outfit signed him up after his success with Die Jahnelf and he has since helped them become a staple in the top tier, with them securing an unlikely spot in the UEFA Europa League in 2014-15 after a spectacular fifth placed finish.
This term the team failed to replicate that success, with European football something of a distraction but also a fantastic experience for the team and the fans, as they reached the quarter-finals of the Europa League.
They were eliminated by Liverpool once they got there, but the experience Weinzierl will have gained from the campaign is priceless, especially at such an early stage of his coaching journey and with big things coming his way.