Notts County have reached an agreement with Kasper Schmeichel which will see the Danish goalkeeper leave on a free transfer at the end of the season.
The 23-year-old joined on a five-year contract in August 2009 and has made 40 league appearances in helping the Magpies secure promotion to League One.
But the Meadow Lane outfit have admitted holding out for a possible transfer fee was "too big a risk for this football club" so the former Manchester City stopper, named in the League Two team of the season, will leave on May 11.
Schmeichel told the club`s official website: "I have had a terrific season at Notts and thoroughly enjoyed every moment and I'll be first in the queue for the end-of-season DVD. It is flattering to be linked with other clubs in the press but so far no-one has made a bid for me so I'll just have to wait and see.
"I came here at the start of the season and there were big plans but our focus was on gaining promotion, which we have done. With the new owners hopefully the club can continue to move forward. I am sad to be leaving and I'd like to thank all of the players, staff and in particular the fans who have been fantastic all season."
Chief executive Jim Rodwell added: "Kasper has performed brilliantly all season and throughout all of the problems behind the scenes he has remained a consummate professional. We would have loved to have kept Kasper but financially that just wasn`t possible."
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