Despite having one year left on his Arsenal deal, the club have come to an agreement with Denilson which will see the player leave the club for free and his contract cancelled by mutual consent.
Denilson, who has spent the last few seasons out on loan, has spoken recently of his desire to remain in Brazil with Sao Paulo, something the Brazilian club were also keen on.
Speaking about the decision of the two parties, Denilson’s agent Alex Soares said
“I can confirm Denilson and Arsenal have agreed to terminate his contract at the end of this month.
“Denilson is free to move to another club and a number of clubs are interested in him.
“I do not want to name teams, but there is interest from Brazil as well as Russia, Italy, Germany and Turkey and I am talking to them.
“No decision has been made and we will assess all offers that come our way.
“If Denilson does stay in Brazil Sao Paulo has the priority, but I do not rule out him moving to another Brazilian club as well.”
Denilson arrived at Arsenal in 2006 for a reported fee of £3.4m and made 153 appearances for the Gunners before being shipped back to his home town after one sideways pass too many.