Madrid, May 28 (IANS): Andoni Iraola confirmed that he will not be continuing as coach of La Liga side Rayo Vallecano next season after three successful seasons.

The 40-year-old was asked about whether he would sign a new contract at the club at his press conference on Saturday after rumors that he had rejected offers of a new deal.

"I'm not going to continue next year as a coach. Yesterday I told the players, who were the first to know," said Iraola, who said he had taken his time to consider his future and that his decision to leave had nothing to do with a breakdown in relations with the Madrid-based outfit.

"I have been very happy for three years and I leave feeling good, but it is the right time. The players have been listening to me for three years and a change for all of us can do us good," he said.

Iraola's three seasons have taken the club to promotion from the Spanish second division and then consolidated them in the top-flight with two seasons in which they have not suffered to avoid relegation, despite one of the lowest budgets in the division, a Xinhua report said.

Last season also saw Rayo reach the semifinals of the Copa del Rey, before losing narrowly to eventual champions Betis.

Iraola was linked with a possible move to Leeds United over the summer and has also been mentioned as a possible coach for Sevilla and Villarreal for next season, but he said he had not spoken to any other club about his future.