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David Beckham is leaving LA Galaxy next month after six years at the club.
He intends to quit after playing in the season-ending Major League Soccer Cup on 1 December.
In a statement Beckham said: "I've had an incredibly special time playing for the LA Galaxy, however, I wanted to experience one last challenge before the end of my playing career."
The former England captain, 37, began his career at Manchester United where he won six Premier League titles.
As well as winning the Champions League at United, Beckham spent four years at Real Madrid from 2003, before moving to the United States in 2007.
Beckham had an option on the contract he signed in January to stay for another year with the Galaxy.
But rather than commit his future to the MLS club, he will leave after helping Galaxy defend their title against the Houston Dynamo.
"I don't see this as the end of my relationship with the league as my ambition is to be part of the ownership structure in the future," Beckham added.
Beckham's initial contract with the league included a clause allowing him to be involved in owning an MLS expansion team down the line.
Football Federation Australia last week claimed they had been approached by Beckham's agent with a view to the player spending a short stint in the A-League.
The move was denied by the Beckham camp.
Beckham's stint in Los Angeles brought success in the form of the Galaxy's third MLS Cup crown last year.
But he also faced repeated criticism from some of his own fans for a perceived lack of commitment to the cause.
Twice he moved on loan to AC Milan during the American off-season. The second time, he tore an Achilles tendon that kept him out of a large part of the following MLS season.
Beckham did win over fans in recent seasons though and was voted the league's best player by supporters.
He joined Manchester United as a 14-year-old and went on to make 398 appearances for the club.
Beckham moved to Real Madrid in a ÂŁ25m deal in 2003, winning the La Liga title in 2007 just weeks before his switch to the United States.
He made his England debut against Moldova in 1996 and captained the side from 2000 to 2006, making his 115th and final England appearance in a 3-0 win over Belarus in 2009.
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