Rooney told Everton's website: "This has been one of the hardest decisions of my life but I feel the time is now right for me to move forward with my career. The Euros were a fantastic experience for me, it made me realise I could play at the highest level.
"To do that, I need to be with a club that is playing in Europe every year. I hope the Everton fans can come to understand my decision and I hope the transfer fee Everton receive will help the club move forward."
As painful as this is for us all, lets just think of the money. It is expected that there will be some frantic bids for Rooney, with Everton's stated price being £30m. My bet is that he will go for around £25m.
Interestingly, a number of news organisations are suggesting that John O'Shea or maybe even Louis Saha may be used as part of a deal with Manchester United. Saha would more or less be an outcast at Old Trafford if Rooney signed, being 4th in the list of 4 strikers. It is also known that O'Shea is considered to be sellable by Sir Alex Ferguson.
There will be more developments today, keep your eyes on this site for news.