Valencia have agreed to cancel the contract of defender Ivan Helguera by mutual consent.

The 33-year-old moved to the Mestalla last season after eight campaigns at Real Madrid, but has never seen eye to eye with Unai Emery and has rarely figured in the Valencia coach's plans.

With Los Che reportedly struggling financially, the club have decided to offload one of their biggest earners.

"Today, Valencia football club and Ivan Helguera have reached an agreement to cancel the contract which linked both parties," read a brief statement on the club website.

"Valencia want to declare their best wishes for Ivan Helguera's personal and professional future and highlight his good behaviour for this club until the final day."