PSV Eindhoven says its captain, Ibrahim Afellay, will not renew his contract when it expires at the end of the season.
In a statement posted on the club’s website Friday, PSV says that “for several reasons, it is unrealistic to extend the contract.”
It now appears likely Dutch international Afellay, who last week scored his first two goals for Holland in a 4-1 defeat of Sweden, will leave the club in the January transfer window.
PSV says Afellay has agreed to do “his utmost not to leave without a reasonable fee for the club.”
The announcement came after the club said it lost €17.5 million for the 2009-10 season, down from a €9.2 million profit a year earlier.