Former Premier League player Jermaine Pennant will not remain with Tampines Rovers as the Singapore club faces pay cuts.
Pennant -- who has previously played for Arsenal, Birmingham, Liverpool and Stoke -- was making £23,495 a month on a 12-month deal he signed in January.
Club chairman Krishna Ramachandra hailed Pennant's contribution to Tampines' second-place finish, but said it was no longer conscionable to renew his contract.
"He's a great player, but no player makes the team," Ramachandra said.
"He's had a huge impact on the club and Singapore football.
"Someone of his stature and frankly quite iconic status engenders an excitement and vibe which was much needed for Singapore football in the early stages of the season.
"While the club could afford his wages, it would also send the wrong message to all the other players that one player is getting a super-scale salary while the others have to take a pay cut.
"It would create a social injustice within the dressing room."
Coach Akbar Nawas said earlier that Pennant will "definitely play a part" in Saturday's Singapore Cup final against Albirex Niigata.
