The club want the player, who has been left out of the side in recent weeks, to accept a cut in his six million-euro salary in return for a one-year longer deal at San Siro, reports Xinhua.
Sneijder and his agent met with club officials Monday to discuss the situation, but the player has made it clear that he won't put pen to paper on the proposed terms.
"At this moment in time I have no reason to sign," he said in the statement. "How can I accept a new contract under these conditions when I am not even playing? As it stands, my decision is to not sign for Inter."
