Penalty-shootout victim Steve Simonsen has been released by Sheffield United.
The 33-year-old goalkeeper missed the crucial spot kick in the Blades' dramatic League One playoff final defeat to Huddersfield Town on Saturday.
United's failure to earn promotion has forced the club to reduce its wage bill, meaning that they could not justify offering Simonsen a new contract.
Chairman Kevin McCabe said: "With the new financial fair play rules, we are going to have to work with a lower budget next season.
"Unless we get the wage bill down, we'll face financial penalties."
Simonsen made 108 appearances for the South Yorkshire club.
