Valencia have agreed to rescind the contract of goalkeeper Santiago Canizares from the start of next week.

"I want to thank him for everything he has given this club. He has been an icon and we wish the very best of luck," president Agustin Morera said.

"We would have liked it all to have finished in a better way but he deserves to leave the club with a big send off."

Valencia host Atletico Madrid at the Mestalla on Sunday for their final game of the campaign. Canizares' contract, which had another year to run, will end on Monday.

The 38-year-old, who has been capped 45 times for Spain, has been at Valencia since leaving Real Madrid in 1998, helping them win two league titles and a UEFA Cup.

He lost his first-choice status to Germany's Timo Hildebrand this season, and suffered a further setback when then coach Ronald Koeman told him in December, along with team mates David Albelda and Miguel Angel Angulo, he would not play again this season.

When Koeman was sacked last month, new coach Salvador Gonzalez 'Voro' recalled him to the squad.

Reuters