"Veterans Inzaghi and Gattuso say goodbye to AC Milan club (PHOTO)" © EuroFootball.com

Longtime key members of the club - defender Gennaro Gattuso and forward Filippo Inzaghi - have confirmed that they will not be renewing contracts that are set to expire this summer.

In a press release titled "In Milano, my great love," Inzaghi is quoted as saying: "I am leaving only because this is life, the time has come and we all understand it."

The 38-year-old Italian joined "Milan" in 2001 and won the Champions League twice. In the 2007 final, he scored both goals as the Italian side defeated "Liverpool" 2-1.

"The time has come for me to step aside and make way for others," added 34-year-old defender Gattuso. "I still feel like I could be useful to someone. I plan to play one more season with another team, but I am not saying goodbye to 'Milan': I will return someday."

It is worth noting that "Milan" has signed a new one-year contract with 36-year-old defender Mario Yepes.