Valencia have agreed to release veteran goalkeeper Santiago Canizares from his contract, as of next week.

The former Spain international had been first choice at Los Che for most of the decade since he joined the club but has found his opportunities limited this season after being frozen out by former coach Ronald Koeman before Christmas.

Valencia confirmed the news in a statement on their website, which read: "Valencia have on Friday reached an agreement with Santiago Canizares to terminate, from Monday May 19, his contract with the club, which ran until the end of next season."

Valencia president Agustin Morera added: "I want to thank him (Canizares) for all the time he has spent at Valencia. He has been and was an icon of our club and we wish him all the luck in the world.

"We hope that on Sunday, if he plays, he can say goodbye to the great fans that he has because he deserves all the respect."

The 38-year-old Canizares moved to the Mestalla in 1998 from Real Madrid and was a major part of one of the most successful periods in Valencia's history, helping them win two league titles and the UEFA Cup among other successes.

Valencia, who have been fighting against relegation in recent weeks but are now safe, finish their Primera Liga campaign at home to Atletico Madrid on Sunday.