Rangers have announced that midfielder Juanma Ortiz has left the club.
Ortiz, 30, has reached an agreement over the termination of his contract despite having agreed to transfer his deal to the newco Rangers.
He had moved to Ibrox from Almeria last summer before returning to his former club on loan for the second half of the season.
Rangers chief executive Charles Green said: "The club would like to wish Juanma well for the future. The club will not have any objection to an International Transfer Certificate being provided by the SFA and the player has conducted himself in the correct manner."
Reports suggest he is likely to sign for Spanish side Granada.