Hamburg have decided not to extend the 31-year-old’s current contract with the club. Petric’s current deal expires in the summer.
“It was important to clarify the situation as quickly as possible,” said Hamburg’s sporting director Frank Arnesen.
“Mladen has scored a lot of goals for Hamburg, and he is still an important player but we have opted for another route,” he added.
“I would have liked to have signed a long-term contract but it is not possible at Hamburg,” said Petric.
“At least the decision has been taken and I can look to the future.”
