ATHENS, Jan 25 (Reuters) - Panathinaikos have parted company with Brazilian midfielder Flavio Conceicao.
'Panathinaikos announces the termination by mutual consent of its cooperation with the Brazilian footballer Flavio Conceicao,' Panathinaikos said.
The former Real Madrid midfielder joined the Athens club last July from Turkish side Galatasaray.
Conceicao, 32, made 21 appearances for Panathinaikos in domestic and European competitions, scoring one goal.
He had been criticised recently by fans and sections of the media as Panathinaikos's form slumped, leaving them third in the league, 12 points behind leaders and local rivals Olympiakos Piraeus.