Contract negotiations to extend Donnarumma's contract with the rossoneri have failed, according to club bosses after a meeting with the player's agent.

Seems like loyalty in football is an outdated concept, as Gianluigi Donnarumma has decided to leave the club that gave him his first shot at the big time.

Speaking in a press conference, AC Milan's Chief Executive Marco Fassone has revealed that the 18-year old shot-stopper will not extend his contract with the rossoneri, which is set to end in 2018. The team's exec admitted that Milan made a massive effort to have him around for a long time, but the player decided not to do so.

"The player made his technical, economical and personal considerations and has decided to reject it. He will end his relationship with AC Milan on June 30, 2018," Fassone told the press earlier today.

According to Milan's chief exec, it was the player's agent, Mino Raiola, who revealed the news to the club. Apparently, the club's failure to reach European competitions next year played a substancial role in Donnarumma's decision.

"I remember that 10 days ago we made an important offer to the player - even more important that what the newspapers have written. It's a final decision taken by the player," Fassone added.

This revelation will be celebrated around Europe, as Donnarumma is one of the most promising players of his generation. Manchester United, Manchester City, Real Madrid, Juventus and PSG have been linked to the player, and it will be up to AC Milan to sell him this summer or wait for his contract to expire next year.