"The Club agreed to pay the option price of £25.5m and offered Carlos a five-year contract which would have made him one of its highest paid players," United said in a statement.

"Disappointingly however, his advisors informed the Club that, despite the success he has enjoyed during one of the Club’s most successful periods, he does not wish to continue playing for Manchester United.

"The Club would like to thank Carlos for his services over the last two seasons and wishes him good luck for the future."

Tevez spent the last two seasons on loan at the Red Devils and played a key role in helping them win two Premiership titles.

However, the Argentina striker, who scored 34 goals in 98 appearances, was unhappy that he wasn't playing on a regular basis.

Chelsea, Manchester City and Spanish giants Real Madrid are expected to battle it out for his signature.

Tevez's registration is owned by a company rather than a club.