Looking through the posts here, it seems as if Milner wanted parity with Taylor. When that was refused based (assumption) on the fact that he just got a new contract and he really didn't do anything to earn a raise, he's decided to try his luck elsewhere. He puts in a request a week ago and the club probably assessed his value in that meeting today. Deciding that they could get a better player in, they're letting him go.
I don't think anyone can be too stressed about this one. He wants to go, and we can hopefully bring in a better player.
Complete speculation on my part, tbf.