The Hague, Dec 31 (IANS) Fred Rutten is set to leave PSV Eindhoven at the end of this season, the 49-year-old coach told Dutch newspaper de Volkskrant.

Rutten is in his third season at PSV. In his first two seasons the Eindhoven based club finished third in the Dutch league.

His contract at PSV runs out in the summer of 2012. The former FC Twente and Schalke 04 coach had informed the club authorities in November about his decision to quit, reports Xinhua.

'It is time that PSV and I let each other go,' said Rutten in de Volkskrant. 'But my upcoming departure from the training complex and the players will be tough.'

Despite several new signings, the performances of his team were not stable, leading to media speculations about his departure. Nevertheless PSV are currently, halfway through the 2011-12 season, second in the league, reached the quarterfinals of the Dutch Cup and survived the group phase of the Europa League.

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