PSV Eindhoven said Ibrahim Afellay, their highly-rated midfielder, will not sign a new contract with the Dutch league leaders.
The 24-year-old's current contract with PSV is due to expire at the end of the season and the Eindhoven side were eager to hold on to their star player. However, they have acknowledged that Afellay will leave the club.
"PSV and Ibrahim Afellay have reached the conclusion that a contract extension is no longer a realistic option for various reasons," read a statement on the official PSV website.
"PSV are disappointed that a successful collaboration will come to an end. However, the club is satisfied with the terms we've agreed with Ibrahim. He has promised the club that he'll do his utmost to make sure he doesn't leave the club without a reasonable compensation."
The statement seems to imply that PSV and Afellay have agreed on selling the Holland international in January.