​Gennaro Gattuso has stepped down as manager of AC Milan, after missing out on Champions League qualification by a single point. 

The club's sporting director Leonardo is expected to follow Gattuso out of the door, disgruntled by CEO Ivan Gazidis' decision to tighten the reins on spending in order to comply with Financial Fair Play constraints. 

Gattuso told ​La Repubblica that he will leave behind the money owed to him by the club, saying he could not let his time at ​Milan come down to a question of money. 

“Deciding to leave Milan's bench is not easy. But it's a decision I had to make. There was not a precise moment in which I made it, it was the sum of these 18 months as coach of a team that for me will never be like the others. Months that I lived with great passion, unforgettable months.

“Mine is a painful but thoughtful choice. Am I giving up a two-year contract? Yes, because my story with Milan can never be a question of money.”

He ​told DAZN“I feel I have too much history with this club, I felt more pressure than I probably should have. I've barely slept in the past 18 months, mentally I'm in pieces and that is something I must consider.

“I thank the team. Finishing on 68 points gives me pride, even if it hurts that we didn't qualify for the Champions League. We made mistakes during the season and, from now on, must make as few as possible, but I believe this was a positive year.

“The biggest regret is that we didn't keep up the same levels of consistency over the past three to four months. We went through too many bad periods."