Leonardo's coaching experiment lasted just one season at AC Milan as the Brazilian parted on amicable terms with his long-time club today.

The Brazilian played for many years at the San Siro before becoming a club executive and last summer he was put in charge of the first team following coach Carlo Ancelotti's departure to Chelsea.

The 40-year-old had moderate success by leading the team into next season's Champions League with a third-place finish in Serie A but the side did not win any trophies.

They were knocked out of the Coppa Italia by Udinese earlier this year and suffered a heavy defeat at the hands of Manchester United in the Champions League.

There was speculation with two months left in the campaign Leonardo wanted to leave this summer and return to Brazil but Milan refuted those rumours back then with the coach under contract for a further year.

"Today we have decided together that the time has come to end our relationship, in the way we have always done, by talking," said Leonardo in today's press conference.

"I never thought I would sit on the bench.

"I tried and for me this has infinitely enriched me with emotions.

"It has been an extraordinary experience.

"My life has been a journey and I can only thank Milan for it.

"There are few people that could say to have had such a journey like I have had here.

"I don't know what my future will be, I have not made any decisions.

"I have no offers and I don't know what I will do."

For a second successive summer, AC Milan will be looking for a new coach, much to the disappointment of club vice-president Adriano Galliani.

"I am evidently very saddened," he said.

"I must say that I had to work hard last year to convince Leonardo to become the coach.

"Now we arrive to this decision and naturally, it has been a joint one.

"It's not that one is leaving the other, this was done through mutual consent.

"Leonardo is 40 years old, he has been a player, an executive and a coach of Milan.

"With Milan, Leonardo has completed a journey.

"Leo began his adventure with us in 1997 and there is a 13-year rapport there."

Just last week, former AC Milan legend Marco van Basten ruled himself out of contention to guide the Rossoneri next season.

Former Cagliari manager Massimiliano Allegri and Leonardo's assistant coach Mauro Tassotti have both been linked to replace the South American.

Milan face Juventus tomorrow at the San Siro in their final game of the campaign.