Spanish World Cup-winner Juan Mata on Friday opted against playing another season with Australian side Melbourne Victory, but stopped short of calling time on his career.
The former Manchester United and Chelsea ace has enjoyed a late-career resurgence and was voted the domestic A-League player of the year in 2025-26.
But the 38-year-old has decided not to play on at the club as he mulls "the next steps in his career".
He will remain involved with the Australian side after taking an ownership stake.
"I loved every minute and so greatly enjoyed everything that we achieved last season, falling back in love with football at such a special place, in an amazing city that it was a privilege to call home," Mata said.
"Now I am excited about our next chapters, believing together in the future of Australian football and inspiring the next generation of Melbourne Victory players and supporters."
Mata announced in June he would take a minority stake in Victory. The terms of the deal were not disclosed but he will become chair of their newly established football committee.
"Juan's 2025/26 season will live long in the memory of Victory fans and should be cherished by all supporters of the world's game here in Australia," said Victory's football director John Didulica.
"Everyone at the club is excited that he is part of our ownership group and, in the future, looks forward to his football intelligence leading our football committee."
Mata, who played in Spain's 2010 World Cup-winning campaign and won the Champions League with Chelsea, moved to Victory in 2025 after a season with Western Sydney Wanderers.
He also has stakes in Formula One team Alpine and Major League Soccer club San Diego FC.