The 32-year-old flop had time called on his Bhoys career with a year of his staggering £32,000 a week contract still to run.

Gravesen – bombed out the team a year ago by  boss Gordon Strachan –played just 33 games for Celtic in two seasons.

On the basis of a £2 million transfer fee to Real Madrid, full wages for a year, reduced wages during his time on loan at Everton, a summer of full pay at Celtic, bonus cash and a settlement sum for the final 12 months of his deal, the former Denmark skipper is likely to have cost the SPL side in excess of £160,000 for every top-team outing.

A statement from Celtic read: “Celtic, Thomas Gravesen and Thomas's representatives have agreed that he will part company with the club.

"Thomas wishes Celtic every success and, likewise, the club wishes Thomas all the very best for the future."

Yesterday’s split brings an end to Gravesen’s disastrous Celtic career – and a costly error the Hoops will not be keen to repeat in the scramble for new signings before the window closes on August 31.

Celtic will just be glad to have such a massive drain of resources off the wage bill especially as the former Everton and Madrid man was due a £1 million “loyalty” payment at the end of this season for seeing out a three-year deal.

His arrival in August 2006 was hailed as a masterstroke by some at Celtic and evidence that the Hoops could lure stars to the SPL from the biggest club in the world.

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