Bournemouth have terminated the contract of former England goalkeeper David James by mutual consent.
The 42-year-old made 19 appearances in almost six months with the Dorset club, having arrived in September 2012.
He last played against Walsall on 19 January, but has fallen behind behind Shwan Jalal and Ryan Allsop in the pecking order at Dean Court.
Cherries boss Eddie Howe said: "Financially we're having to re-adjust and re-align things at the club."
Speaking after the 1-0 win over Stevenage in League One, Howe continued: "David James has been excellent for us. He's been a model professional - can't speak highly enough of him.
"Unfortunately we've had to make some difficult calls, not just on the goalkeeping front. The wage bill is very high for this football club so we need to adjust things and re-align the playing side, also like it's been re-aligned off the pitch
"The club has to be streamlined and it has to make sure it's manageable so we're in the process of doing that.
"We thank David for everything that he's done for us and we wish him well in the future."
James, who has played for eight clubs during his career, was recently linked with a move to Iceland club IBV.