Perth Glory have confirmed that they are "in the process of terminating" Ireland striker Andy Keogh's contract.
The Australian club confirmed that the 29-year-old had received an offer from an overseas club that they "could not compete with".
Keogh, who scored 12 goals in 27 A-League games last season, had one year left on his contract and has been linked to Thai side Ratchaburi.
He was involved in a salary-cap scandal at the end of last season, which saw the club thrown out of the championship play-offs.
A statement on the club's website read: "Upon his return to Perth late last week, Keogh received an offer from an overseas club, which Perth Glory could not compete with.
"Perth Glory exhausted every avenue to resolve certain terms and conditions relating to Keogh's contract from last year and offered him a new and transparent deal that did not breach the salary cap.
"After several talks with Keogh and his management the club decided not to stand in his way, subject to Perth Glory being compensated."
The former Wolves and Millwall man won the first of 29 Ireland caps against Equador in 2007.