Esteban Cambiasso has revealed that he will not be renewing his contract at Leicester City this summer.

The experienced midfielder joined the Foxes 11 months ago on a short-term deal that has recently expired.

New Leicester boss Claudio Ranieri reiterated earlier this week that he wanted to keep hold of the former Argentina international, but needed a swift decision over his future to be made.

Cambiasso has now confirmed that he was offered a new contract at the King Power Stadium but has opted to turn it down in order to continue his career elsewhere.

"I would like to announce that I have decided not to renew my contract with Leicester City," he said in a statement. "I have taken this decision only 24 hours after receiving [a new contract offer] from Leicester because I want to give the club as much time as possible to find an alternative.

"I would like to thank all the fans who last season made me feel proud to be part of a club with an unforgettable spirit and energy. And a very special thanks to all my teammates, staff and every member of the club, with whom I have lived one of the most important years of my career, crowned with the remaining EPL status."

Cambiasso has previously been linked with numerous clubs, including City's Midlands rivals Aston Villa.