I don't think Podolski will be leaving Cologne, there is no indication anywhere on their homepage about it and I don't think they are willing to give him up right away. It is a shame though, him being called up for EURO 2004 and being part of a team that was relegaded isn't exactly fair to his potential. If Cologne don't manage to get back in the Bundesliga I'm pretty sure he'll be bought. If he impresses the least bit in EURO 2004, if he gets enought playing time to do so that is, I'm pretty sure one of the clubs in the Bundesliga will be looking for his services.
The new president Wolfgang Overrath (Is he already the new president, I dunno ) already said some weeks ago that he wants to hold him in Cologne at all causes.
it depends on his success in the portugal EM. in case he´ll score for germany isomehow, cologne won´t be able to hold him. the big clubs will step in and offer just too much for both fc cologne and the player to resist. anyway, he´s the german stiker with the highest potential since klinsmann and rummenigge. he´s not just a goalgetter, but an excellent left footed overall matchwinner, someone who can play in the central or left offensive midfield, too. i hope the early success will not corrupt his youthful character and athletic capabilities...