Manchester City striker Sergio Aguero will leave the club at the end of the season when his contract expires.
Aguero, who was signed from Atletico Madrid in 2011, will be honoured with a statue at the Etihad Stadium, which will stand alongside those of his former team-mates David Silva and Vincent Kompany.
It is understood to have been a cordial agreement between both parties, with Aguero having only made 14 appearances for City this season due to issues with health and injuries.
City manager Pep Guardiola spoke with Aguero, 32, in person on Monday before the announcement was made, while chairman Khaldoon Al Mubarak called the striker to inform him of plans for the statue.
The Argentina international has helped City win four Premier League titles, an FA Cup and five League Cups over his 10-year stay.
Aguero is also City’s record goalscorer, with 257 goals in 384 appearances for the club, surpassing Eric Brook’s 78-year record.
In a statement, Aguero said: “When a cycle comes to an end, many sensations arise.
“A huge sense of satisfaction and pride remains in me for having played with Manchester City for a whole ten seasons – unusual for a professional player this day and age.
“Ten seasons with major achievements, throughout which I was able to become the top historic goalscorer and forging an indestructible bond with all those who love this club – people who will always be in my heart.
“I was to join during the reconstruction era of 2011, and with the guidance of the owners and the contributions of many players, we earned a place among the greatest of the world.
“The task to maintain this well-deserved privileged position will remain on others.
“As for myself, I will continue to give it my utmost for the rest of the season to win more titles and bring more joy to the fans. Then, a new stage with new challenges will begin, and I am fully ready to face them with the same passion and professionalism that I have always dedicated to continue competing at the highest level.”
City chairman Khaldoon Al Mubarak said: “It gives me great pleasure to announce that we will be commissioning an artist to create a statue of Sergio to live at the Etihad Stadium alongside the ones under construction for Vincent [Kompany] and David [Silva].
“We look forward to the opportunity to bid Sergio a fitting farewell at the end of the season.”