Arsenal target Victor Valdes has confirmed he will not seek a transfer away from Barcelona this summer and will remain at the Camp Nou until the expiration of his contract in 2014.
Valdes has outlined his intention not to extend his stay with Barcelona at the end of his current deal, which has led to speculation of a transfer to Arsenal before the transfer deadline this year.
Arsenal were reported to have already opened talks with the 31-year-old Spain international as Arsene Wenger strives to bring a new No.1 to the Emirates Stadium, but the Gunners will now have to look elsewhere for reinforcements.
"I owe the fans an explanation as to why I will not renew my contract. Barcelona have given me everything and this has been home for 20 years," Valdes told a press conference.
"The pressure as a goalkeeper is huge, though, at this club. I am exhausted psychologically and I feel that my cycle at the club ends in 2014. This is not about money.
"I feel honoured that the club want me to continue, but my decision is final. I will continue to wear the Barca jersey with honour until the final day of my contract.
"I think that the club have enough time to find a good successor."
A poll by Marca, however, revealed that Marc-André ter Stegen of Hamburg is the preferred target of Barcelona fans to succeed Valdes between the sticks in Catalonia.