The goalkeeper said he will not re-sign with the Blaugrana but may not leave the Primera Division champion this summer after all despite a link to Monaco.
The goalkeeper, who began his youth career in ther Barcelona system, told the club earlier this season that he does not want to extend his current deal, leading to speculation that he could be on his way out of the Liga champions this summer. Monaco was believed to be keen to lure him to France, but the 31-year-old said he may very well see out his contract at Camp Nou.
"I owe the fans an explanation as to why I will not renew my contract. Barcelona have given me everything and this has been home for 20 years," Valdes said at a press conference. "The pressure as a goalkeeper is huge, though, at this club. I am exhausted psychologically and I feel that my cycle at the club ends in 2014. This is not about money.
"I feel honored that the club want me to continue, but my decision is final. I will continue to wear the Barca jersey with honor until the final day of my contract.
"I want to stay until 2014, but I am open to discuss things with the club. I think that the club have enough time to find a good successor."
Valdes made his official first team debut in 2002-03 and has since made more than 500 appearances for the club.