Seluk said Toure has received "various offers" and the 32 year-old will assess his options at the end of the current English Premier League season.
"We have waited too long. Manchester City promised a deal but nothing has materialised so Yaya will leave in June," Seluk said.
"He is disappointed of course. But he is a professional and he remains under contract, so he will continue to do his best for City."
The Ivory Coast international joined City in the summer of 2010 from Barcelona, who were then managed by incoming City manager Pep Guardiola.
He has been linked with a move to Inter Milan, managed by former City boss Roberto Mancini - the man who brought him to the Etihad Stadium.
"Various offers have arrived for Yaya and we're evaluating them, but no decision has been taken yet for next season," Seluk said.
"Will the economic aspect make the difference? Absolutely not. We don't put money before everything, but the project the club presents us. The best will convince us.
"Inter? We're definitely talking about a great club and everyone knows about the relationship between Yaya and Mancini, but like I've already said, we haven't made any decision yet."