The Arizona Coyotes and Shane Doan will officially be parting ways after the team released a statement saying it would not be offering its longtime team captain a contract for the upcoming season.

Doan, 40, has been with the team since being drafted by the then-Winnipeg Jets in 1995. The team would become the Phoenix Coyotes just a season later.

Doan, who has spent his entire 21-year career with the Coyotes organization, is the team's all-time leader in goals scored and points among other accolades.

But this is a start. Thank you Captain. pic.twitter.com/7ZF5mBZW9h

— Arizona Coyotes (@ArizonaCoyotes) June 19, 2017

In a statement, team owner Andrew Barroway said "the time has come for us to move on and to focus on our young, talented group of players and our very bright future."

He commended Doan for all he's done for the Coyotes and said he would be a "member of our Pack forever."

Doan has yet to release an official statement.

Read Barroway's full statement:

After serious consideration, we have decided to not offer Shane Doan a contract for the upcoming season. The time has come for us to move on and to focus on our young, talented group of players and our very bright future. This was a very difficult decision given what Shane has done for the Coyotes and his unparalleled importance to the organization. With that said, this is necessary to move us forward as a franchise.
On behalf of the entire organization, I would like to sincerely thank Shane for everything he's done for the Coyotes on and off the ice the past 21 years. Shane is a Valley icon who had an incredible career and was one of the best captains to ever play in the NHL.
Shane deserves an enormous amount of credit for keeping the Coyotes in the Valley and for growing the game of hockey in Arizona. He is beloved by our fans, corporate partners and the media and has been a tremendous leader for us in the community, and a great role model for kids. We wish him and his family all the best in the future. He will be a member of our Pack forever.