Molyneux’s current deal is set to expire at the end of the month and following months of prolonged negotiations, the club has confirmed the 24-year-old will leave the Suit Direct Stadium with League Two rivals Doncaster announcing he will head to the Eco-Power Stadium.
Molyneux enjoyed a hugely successful season, signified by scooping a hat-trick of awards at the club’s end of season ceremony, including the player of the year and fans’ player of the year awards.
Molyneux led Pools' goal scoring charts with 12 for the season, his best to date, as he helped ensure their EFL status for another year.
Molyneux joined Pools after being released from his boyhood club, Sunderland, in 2019 having spent the second half of the 2018/19 campaign on-loan at the Suit Direct Stadium and made 111 appearances for Pools in total scoring 18 times.
“So this is the tough part,” Molyneux wrote.
“After three-and-a-half years at this fantastic football club, I have come to the tough decision that I will be leaving the club that has given me so many good memories.
“A club that made the best day of my life possible in that play-off final, a club that took me in when I was released from Sunderland with nowhere else to go, a club that made me enjoy my football again and got me back to playing at my best.
“I will be forever grateful for what this club and you, the fans, have done for me with how close I became with all of you. You could feel a real bond between the players and the fans which a lot of clubs do not have.
“I hope you can understand my decision to leave as for me, it was not an easy one.
“I’m honoured to be able to get the club back into the league where it belongs but I’m sure this club can now push on again as the sky's the limit.
“I want to wish the staff, players, fans and everyone involved in the club the best for the future. I made some lifelong friends at this club and memories I’ll never forget.”
Pools boss Paul Hartley also commented on Molyneux’s decision suggesting the 24-year-old had expressed a desire to move on with his career during their conversations.
“Everyone at the club would like to thank Luke for his service over the last three-and-a-half years,” said Hartley.
“After a few conversations with Luke, he expressed his desire to go and take up a new opportunity and we wish him nothing but all the best in the future.”
Molyneux becomes the second player to turn down the offer of a new deal at the Suit Direct Stadium after Gary Liddle made the decision to join non-league side South Shields earlier this month.
And while Molyneux admits it was a difficult decision to leave Pools, the decision to make Doncaster his next destination was an easy one.
“I came here, spoke to the gaffer and it was a no-brainer,” Molyneux said.
“I just want to be at a team that can get me up to where I want to be.
“As soon as I showed up to the ground it was a no-brainer, seeing the stadium.
“It’s a huge club to be a part of and I know it’s going in the right direction. I want to be a part of that.”
Molyneux's exit leaves striker Jordan Cook and defender Timi Odusina as the only remaining two players yet to confirm where their future lies as we head into the new pre-season campaign.