STEVE WOODS has accepted a financial settlement and terminated his contract with Torquay United.
The long-serving Gulls defender was told by manager Paul Buckle last month that he would not be offered a new deal in the summer.
Woods, 32, says he has not pursued a loan transfer over the last few weeks of the season to avoid the risk of picking up an injury which might affect his prospects of a permanent move during the summer.
Woods, who played 281 times for United over eight years at Plainmoor, said: "I will look to train with somebody. Whether that's on the doorstep or a bit further away just depends what's on offer."