"We are grateful for the contribution Peter has given over the years as a player, coach and ambassador and we wish him well for the future.

"The club will make no further comment at this time."

Newcastle have not revealed the outcome of the investigation, which was launched in January last year after midfielder Yasin Ben El-Mhanni, backed by several team-mates, made a formal complaint about Beardsley.

Managing director Lee Charnley conducted the probe after interviewing Beardsley, who denied the allegations but agreed to take leave while the investigation was ongoing.

El-Mhanni, now 23, has since left the club.

Beardsley made more than 300 appearances for the clubs in two spells and won 59 caps for England.

He said in a statement: "The time is now right for me to seek a new challenge and I wish the players all the best and the supporters the success they deserve.

"I have always honoured my contractual obligations of confidentiality to the club and maintained my silence, which has in itself been very difficult.

"I am incredibly grateful for the tremendous support I have received and I look forward to the future."

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