Henrikh Mkhitaryan is set to reject Borussia Dortmund’s offer of a contract extension, with agent Mino Raiola saying in : “Why should we prolong it now?”

Dortmund have been trying to tie Mkhitaryan to a new deal since the turn of the year but, going into the summer break, the 27-year-old has yet to put pen to paper and is about to enter the final 12 months of his current Borussia contract.

However, German tabloid Bild said on Tuesday that the Armenia international is set to reject club’s latest offer, and Raiola told the paper: “Why should we prolong it now? ‘Micki’ is under contract until 2017, and we continue to think about his future.”

Raiola, who also represents the likes of Zlatan Ibrahimovic, Paul Pogba and Romelu Lukaku, reportedly wanted to include a release clause in Mkhitaryan’s contract that would allow the midfielder to switch clubs should current BVB coach Thomas Tuchel leave the Westfalenstadion in the future, according to ESPN.

However, Dortmund have said in the past they will no longer allow players to insert release clauses into their contracts.

“I won’t comment on this,” Dortmund CEO Hans-Joachim Watzke told Bild when asked about the breakdown in negotiations.

Mkhitaryan, the club’s record signing when he joined from Shaktar Donetsk for €27.5 million in 2013, has excelled under Tuchel and was by his Bundesliga colleagues in the prestigious annual kicker player poll.

Bild also reports that Chelsea and Arsenal are interested in signing the skillful midfielder, but it’s unlikely that Dortmund are prepared to sell considering the club have already sold Mats Hummels to Bayern Munich and İlkay Gündoğan could also be set to move on.