Bayern Munich confirmed on Tuesday that they will not take on the buy option on James Rodriguez and the Columbian attacking midfielder will leave the club following his two-year loan from Real Madrid.

"On behalf of FC Bayern Munich, I'd like to thank James for two successful years at the club. We've won German league title and the DFB Cup twice with him. Beyond that, we reached the semi-finals of the Champions League with him. James made an important contribution to all these successes," declared the chairman of Bayern Munich Karl-Heinz Rummenigge.

The German double winners had the option to sign James for a fixed price of 42 million euros once his loan deal ends on June 30, but Bayern says the 27-year-old asked for the option not to be taken.

"I'd like to say a big thank you to the whole club and all the fans who have always given us tremendous support," James said, "I had two unforgettable years in Munich and I always really felt at home here."

James made 67 appearances for Bayern, scoring 15 goals and providing 20 assists in the past two seasons.