Wolves have come to an agreement with former captain Roger Johnson to terminate the remainder of his contract after more than a season and a half out of favour at Molineux.
The 31-year-old centre-back, signed for £4m by Mick McCarthy from Birmingham City in the summer of 2011, was under contract until the end of this season.
But Wolves have taken the decision to get him off the payroll now.
Johnson, who now becomes a free agent, has been linked with Charlton Athletic.
The former Wycombe Wanderers and Cardiff City defender was a League Cup winner at Wembley with Birmingham just four years ago, only to leave Blues following relegation to sign for Wolves.
|The BBC WM assessment on Roger Johnson|
|"Farewell, then, Roger Johnson. Many Wolves supporters will greet his departure as a cause for celebration. On reflection, emotions ought to be more sober. A player who arrived with a growing reputation, and was entrusted with the captaincy of a famous club, committed what should have been the prime of his career to Wolves and abjectly failed at huge expense. In 2011 Wolves fans chanted his name. Within a year they took his name in vain. There is still time for Johnson, at 31, to put his undoubted playing talents to good use somewhere else, but it will remain a regret to many - and perhaps to the player himself - that such a long section of his career has been wasted." (Mike Taylor, BBC WM)|
But he was to suffer two more relegations in successive seasons with Wolves, as the club crashed from the Premier League to League One.
And Johnson, made skipper by McCarthy in place of Karl Henry when he first arrived, found himself the focal point of fans' frustrations, fuelled by his dropping by then-caretaker manager Terry Connor after turning up one Monday morning "unfit to train properly".
His last game for Wolves was the final-day relegation-sealing Championship defeat at Brighton in May 2013.
Following that, he - along with Henry, Jamie O'Hara and Stephen Ward - was one of four players placed on the transfer list.
He has remained available ever since and out in the cold at Molineux, unused by Wolves head coach Kenny Jackett and forced at times to train with the club's academy squad.