Bayern Munich midfielder Leon Goretzka will leave the German giants at the end of the season.
The club and player have announced that the 30-year-old will become a free agent when his contract expires at the end of the season.
Atletico Madrid had been heavily linked with a move this month, but Goretzka will see out the remainder of the campaign with Vincent Kompany's side.
“As much as I am honoured by the interest from international top clubs, I have made a clear decision for myself to remain at FC Bayern until the end of the season,” Goretzka wrote on Instagram.
“At the same time, the club and I have decided in good and constructive talks that our successful time together will come to an end in the summer. As I have said before, this is also the right moment for me to open a new chapter once again, both as a footballer and as a person.”
Meanwhile, Bayern sporting director Christoph Freund said: “Leon feels very much at home in this club and this team. Despite several quality inquiries, he has decided to stay here until the end of the season.
"After open and constructive talks, we have come to the conclusion together that he will seek out a new challenge in the summer. It’ll be eight years at Bayern – eight extremely successful years with a strong person and player.
"Leon will give his all up to the summer to win as many more titles with the team as possible.”
Goretzka has made 292 competitive appearances during his time with Bayern, netting 47 goals and 48 assists.
Swansea fail to land Fitz-Jim
Championship outfit Swansea City have reportedly failed with an approach for Ajax midfielder Kian Fitz-Jim.
Having made two additions this month, the Swans are keen to bring in further reinforcements before Monday's transfer deadline.
According to Sky Sports News, Vitor Matos's side were looking to pull off an ambitious move to sign Fitz-Jim from Dutch giants Ajax.
However, their efforts to sign Fitz-Jim on a permanent deal have seemingly failed after having an approach knocked back by Ajax.
The 22-year-old has only started three Eredivisie games this season, but is determined to stay and fight for his place in the side.
Burnley receive Ekdal approach
Meanwhile, Wolfsburg are reportedly interested in signing defender Hjalmar Ekdal from Premier League strugglers Burnley.
According to journalist Fabrizio Romano, the German club have made an approach to Burnley over a potential transfer.
The update claims that the two clubs are now in negotiations over a possible deal for a player who has 18 months left on his contract.
The Sweden international has started 13 of his 15 Premier League appearances, although he has only featured in one of Burnley's last five Premier League games.
It is currently unclear whether Scott Parker's side will want to sign a replacement centre-back before they sanction Ekdal's exit.