PSV still seem to be holding some hope of Toivonen signing a new contract. Just tweeted:

PSV ‏@PSV 1m
Ola Toivonen staat weer op het trainingsveld bij PSV. Hij is daarnaast ook nog jarig vandaag! Ola wordt 27 jaar. Van harte!

(Ola is back on the training field with PSV, and it is also his birthday. Happy Birthday etc.)

So, they most certainly haven't cut ties.

Posted By: Steve in Holland, Jul 3, 10:26:52