Wolves midfielder David Jones has rejected a new contract offer after failing to agree terms with the club.[LNB] Former Manchester United player Jones has only 12 months left of his current three-year deal.[LNB]The 25-year-old started negotiations at the tail end of last season but has been unable to reach agreement.[LNB]Wolves chief executive Jez Moxey confirmed: "We've had a number of amicable discussions over the summer about extending David's contract but we've been unable to reach agreement.[LNB]"Both sides are relaxed about the situation and remain open-minded about the future.[LNB]"David is committed to his role in helping the team do as well as possible, hopefully building on last season's successful campaign, and will continue to give his all.[LNB]"Likewise, the club is committed to David as a player and, subject to the manager's view, we fully expect him to feature in the team."[LNB]Jones said: "The conversations with the club have been amicable and although we have yet to reach an agreement, I'm really excited for the new Premier League season.[LNB]"I want to help the club build on last year's success and will continue to give 100% as always."