Wolves midfielder Dave Jones has rejected a new contract offer with only 12 months left to run on his existing deal.
The 25-year-old Manchester United youth product started negotiations with the Molineux outfit towards the end of last season but a deal has not been reached as yet.
Despite amicable negotiations between the two parties, talks have broken down, although Jones will continue to give 100 per cent in the upcoming season.
Wolves chief executive Jez Moxey said: "We've had a number of amicable discussions over the summer about extending David's contract but we've been unable to reach agreement.
"Both sides are relaxed about the situation and remain open-minded about the future.
"David is committed to his role in helping the team do as well as possible, hopefully building on last season's successful campaign, and will continue to give his all.
"Likewise, the club is committed to David as a player and, subject to the manager's view, we fully expect him to feature in the team."
Jones added: "The conversations with the club have been amicable and although we have yet to reach an agreement, I'm really excited for the new Premier League season.
"I want to help the club build on last year's success and will continue to give 100% as always."
Jones has made 54 league appearances for Wolves since moving from Derby in 2008, for a reported fee of £1.2million.