Sergio Ramos (pictured) applauds the fans after the La Liga match between Real Madrid and Getafe CF at Estadio Santiago Bernabéu on August 20, 2018.

MADRID - Real Madrid's legendary captain Sergio Ramos is set to announce his departure from the club on Thursday.

The La Liga giants confirmed there would be a farewell tribute to the 35-year-old, whose contract expires at the end of the month.

It will bring to an end the defender's 16-year association with Los Blancos.

Ramos was reportedly ready to sign an extension to his contract, but negotiations appear to have fallen through.

The veteran centre-back was thought to be holding out for a two-year deal at the Bernabeu, with Madrid preferring a shorter option.

Ramos made just 15 La Liga appearances in an injury disrupted 2020/21 season, giving him little opportunity to tempt potential suitors for his signature.

He was left out of the Spain squad for Euro 2020 due to a lack of form and fitness, with hamstring, calf and knee injuries having hampered his season.

Arriving at the Bernabeu from Sevilla in 2005, Ramos was just 19 when he inherited the number four shirt from Fernando Hierro.

He went on to win five LaLiga titles and two Copa del Rey titles during a glittering decade and a half at the club, lifting the Champions League trophy four times, including La Decima, the club's historic 10th title.

He also won the Spanish Super Cup four times, three European Super Cups and four FIFA World Club Cup titles.

Premier League giants Manchester United and Ligue 1 side Paris Saint-Germain now appears to be the favourites to secure the Spain international's signature, while there were also reports from Malaysian satellite television ASTRO that the country's Super League defending champions Johor Darul Takzim (JDT) is reportedly ready to offer the former Los Blancos skipper a contract which would see him become Malaysia's highest paid footballer in history in an attempt to lure Ramos to help develop South East Asian football.