Manchester United have revealed that Carlos Tevez is to leave the club despite being offered a five-year contract.
The future of the Argentina striker has been the subject of much debate since the end of the season as his two-year loan deal was set to expire this month.
Initial reports claimed that United were unwilling to make the £30million payment to the owners of Tevez's economic rights to make the loan deal into a permanent transfer.
That led to a wave of speculation liking the 25-year-old with moves to Liverpool, Manchester City, Chelsea and Real Madrid.
But although the Red Devils have revealed that Tevez is on his way out of Old Trafford, they have denied being unwilling to sign him on a permanent basis.
"Following contact received from Carlos Tevez's advisors last night, in advance of the deadline the club set for concluding negotiations, Manchester United announces that Carlos will not be signing a new contract," read a United statement.
"The club agreed to pay the option price of £25.5million and offered Carlos a five-year contract which would have made him one of its highest paid players.
"Disappointingly however, his advisors informed the club that, despite the success he has enjoyed during one of the club's most successful periods, he does not wish to continue playing for Manchester United.
"The club would like to thank Carlos for his services over the last two seasons and wishes him good luck for the future."
Tevez scored 34 goals in 99 appearances during his two seasons at Old Trafford.
His departure is the second major exit in the space of as many weeks following the club's decision to sell Cristiano Ronaldo to Real Madrid in a world record £80million transfer.