Shane Warne will not be returning to Hampshire this summer.

Following detailed and lengthy discussions with Rose Bowl plc chairman Rod Bransgrove, a mutual conclusion was reached.

A club statetment said: "Shane's increasing and diverse business interests were impacting upon both his availability and his cherished time with his children and both parties were keen the club should have clarity about its future."

Bransgrove said: "I know this will be a major disappointment to many fans of both Hampshire and Shane but, after much discussion and soul-searching, it has become clear to both of us, that Shane can no longer make the commitment required to continue to lead Hampshire.

"His many other business and charitable activities, together with his strong desire to share quality time with his beloved children, makes further extended periods away from home unmanageable at this stage of his life.

"After the commitment and loyalty he has shown to this club over the past few years, I can only wish him all the success and happiness he deserves."

Rod continued: "Hampshire Cricket has been hugely privileged to have enjoyed the unstinting loyalty of this living legend since 2000.

"The most effective and entertaining bowler of all time, Shane Warne was also a brilliant leader and strategist.

"As our captain, his influence was instrumental in the development of Hampshire into one of the country's top sides and he enriched the game wherever he played.

"I am sure that all our supporters will join us in, firstly, thanking Shane for his dedication and commitment and, secondly, wishing him and his family the best of wishes for the next phase of his life. Warnie will be sorely missed, never forgotten and always welcome at The Rose Bowl".

Shane Warne announced from Melbourne: "My eight years with Hampshire have been a wonderful experience.

"I have memories and friendships formed at the club that will last with me forever.

"Unfortunately I'm retiring from all first class cricket but will participate in the IPL with the Jaipur franchise as captain and coach.

"I would like to take this opportunity to thank Rod, Paul Terry and Tim Tremlett for their ongoing support and the opportunity to captain the club, and I wish them all the best for the coming season.

"To the players, thank you very much for your support and friendship. I was very lucky to have played with such a wonderful group of guys, thanks for the great times.

"To all the support staff at The Rose Bowl, thank you for making my time at the Club an enjoyable experience and making me feel so welcome.

"To all the fans that have turned up to watch the Hawks play, thank you very much for embracing me as one of you, and supporting me and the team, it meant a lot to me.

"To Dimi the new captain, who is also one of my best friends, good luck with it all buddy, my thoughts are with you and the guys.

"This was not an easy decision to make but due to some exciting business opportunities and wanting to spend more time with my children, I had to make this call.

"Good luck to all involved at The Rose Bowl I wish you all the best."

Hampshire manager Paul Terry said: "I've been extremely lucky to have had the best seat in the house for the past few years working closely with this legend.

"I'm very sorry, although not entirely surprised Warne has come to this decision. Most importantly it's his deep affection for his three lovely kids that strongly influenced this decision and it's now he feels the time is right to spend more time with them.

"He has been fantastic for the club with his incredible enthusiasm, drive and skill as captain. He will be missed considerably on the field as there has never been anyone better but most importantly he will leave behind a host of friends that he has made through his kindness, generosity and loyalty.

"He will be missed, but certainly never forgotten, and I personally thank him for the experience and wish him fantastic success in all his future endeavours."

Warne took 276 first class wickets for Hampshire at an average of 25.59.

He made a total of 2040 runs, including a highest score of 107 against Kent at Canterbury in 2005.

Supporters will have an opportunity to say farewell to Shane later in the year when he will return for an end-of-season dinner at The Rose Bowl, the date of which will be confirmed and announced in the very near future.