Sergio Ramos is leaving Real Madrid after 671 appearances, 101 goals, 22 trophies and 26 red cards over 16 years of service during which he captained the club in one of its most successful eras.

Madrid announced the departure of one of its most iconic players in a brief statement on Wednesday, saying Ramos would be honored with a farewell news conference alongside president Florentino Perez on Thursday.

Ramos, 35, reached the end of his contract and, according to Spanish newspaper Marca, was unable to agree an extension after Real offered him a one-year deal, with a 10% pay cut, which he rejected.