Radamel Falcao will leave The league when the Vallecano Ray the contract expires next month.
The veteran striker has struggled for regular game time at Vallecas this season with an incredible 20 league substitute appearances, and just one start.
Rayo have indicated that they have not opened renewal talks with Falcao as they look to cut costs at the club this summer.
Falcao will now assess his options in the coming weeks with offers expected from Saudi Arabia and the USA.
However, the 38-year-old suffered another blow after being overlooked for Colombia's Copa America squad in what would have been his final appearance in the competition.
“I don't know what he'll do yet, but I think he'll have to 'travel' again,” as quoted by Brand.
“I will look for more continuity, in a place where I can enjoy these last years of my career. I feel good to continue playing and I will look for a chance to do it.
Falcao's absence from Colombia's panel in the United States could mean the end of his international career, and today he tops his list of all goalscorers with 36 international goals.
Senior Real Madrid game director James Rodriguez he was included by Nestor Lorenzo with the 32-year-old currently at Brazilian side Sao Paulo.
