AC Milan goalkeeper Gianluigi Donnarumma has decided to reject a new contract, leaving open the possibility of the teenager departing the club this summer.

The 18-year-old is considered to be the biggest goalkeeping prospect in world football having already made 71 first-team appearances for the Italian giants, who had hoped to extend his deal past the end of next season.

However, CEO Marco Fassone has announced that the club have failed to convince the teenager to remain at the San Siro, and he now looks likely to leave during the summer transfer window.

In a statement, Fassone said: "Mino Raiola has informed me of Donnarumma's decision not to renew his contract with AC Mian. It's a final decision taken by the player.

"I remember that 10 days ago we made an important offer to the player - even more important that what the newspapers have written. 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."

Raiola has previously claimed that "11 top clubs" are keen on signing Donnarumma.