Sao Paulo and James Rodriguez have reached an agreement to rescind the midfielder's contract by mutual consent, according to widespread media reports in Brazil.

The 33-year-old has 12 months remaining on his contract with the Brazilian Serie A club but is not in the plans of manager Luis Zubeldia.

"I think it's a matter that James is resolving with our directors so it's a question that they can answer better than I can," Zubeldia told reporters on Sunday when asked about Rodriguez's future.

"It is an institutional decision, along with the player's interests. I can't talk about it anymore. You have to ask the board and the player."

Rodriguez has made just 22 appearances across all competitions, scoring twice and providing four assists, since joining Sao Paulo last July.

Despite his poor form at club level, the Colombia captain has shone at international level. Earlier this month, the former Real Madrid player received the Golden Ball awarded to the best player at this year's Copa America after he racked up six assists as Colombia reached the final of the continental tournament.

According to media reports, Atletico Madrid, Porto and Villarreal have expressed interest in signing the playmaker. 

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