The 21-year-old forward spent the first half of the season with Bundesliga side Hoffenheim, scoring two goals in 15 league appearances before making a move to Elland Road in January.
Leeds were struggling in front of goal and broke their club record fee to sign Rutter, who was expected to provide the side with extra firepower.
However, after joining Leeds, Rutter struggled to get into the starting line-up and failed to find the back of the net in eleven outings for the club.
Leeds have been relegated and the signing of Rutter on a huge fee has been the subject of much debate.
It has been claimed that Radrizzani wanted to bring the 21-year-old on a loan deal with an obligation to buy at the end of the season.
But Leeds’ American shareholders, the 49ers, were in favour of a permanent move for Rutter for a record transfer fee of £36m.
The Americans’ view ultimately won out and Rutter was signed on a big money deal.
Leeds’ relegation to the Championship will have no effect on the fee Hoffenheim will receive.
With Leeds in the Championship next season, it remains to be seen what lies ahead in the future for Rutter at Elland Road.