Todd is the latest in Glory interim coach Ian Ferguson's clearout as he looks to rebuild from the ground up after the club struggled throughout this campaign despite being tipped as a title contender last August, .

Wednesday night's 2-1 loss to Central Coast Mariners has all but guaranteed 10th-placed Glory cannot make the finals this season as they are now nine points adrift of sixth-placed Melbourne Heart with just four games remaining.

Having been a rock in central defence for Glory as the club made their first A-League finals appearance in 2009-10, Todd was a popular winner of the Most Glorious Player award last March.

But the 36-year-old has endured a difficult time this term, having to cope with pre-season knee problems, illness and a long-term hip flexor injury.

However, when he's been available, former Blackburn skipper Todd has been his usual commanding self in the 15 games he's played.

"I still believe I can play and I'm hopeful of doing that back home in England," said Todd in a media release on Thursday afternoon.

Perth Glory deputy chairman Lui Giuliani thanked Todd for his contribution and explained the long lay-off between the end of this A-League season and an estimated October start to the next campaign meant the club couldn't commit to a new deal.

"Unfortunately because of the possible eight month lay-off we are not ready to finalise our squad," Giuliani said.

"Andy is a club champion, a first class professional and we understand his desire to find a new club while the transfer window is still open.

"We wish Andy all the very best and haven't ruled out the possibility of offering him a new deal later in the year."

Todd is the fourth Glory player to be released this season after goalkeeper Aleks Vrteski, striker Michael Baird and midfielder Andrija Jukic were allowed to seek opportunities elsewhere.

His exit, though, comes amid reports Perth will struggle to reduce their player payments below the salary cap next season, especially as the club is apparently chasing Adelaide skipper Travis Dodd.

If Dodd is signed, he may have to take up a non-marquee position in the squad, however, as Mile Sterjovski has a season remaining on his contract as the Australian marquee player, while Robbie Fowler could still re-sign for next season as the international marquee.

Perth Glory football director Dave Mitchell is also in Doha at present scouting for players at the Asian Cup in Qatar, with the former coach apparently keeping an eye on India's Sunil Chhetri and an unnamed Japanese player.

With the club looking to make additions for next seasons, along with already signing Danny Vukovic (Wellington Phoenix) and Evan Berger (Melbourne Victory), it seems likely that it could not offer Todd a big-money contract at present for 2011-12, especially as it already has several central defenders in the squad in the form of Jamie Harnwell, Scott Neville, Chris Coyne and Brent Griffiths.

Former player Baird has also indicated these salary cap pressure may be behind the axing of Jamie Coyne for last Saturday's clash with Melbourne Heart.

According to Baird, Coyne may be on contract where, if he played one more game, a clause would be activated meaning he'd be automatically signed for next season.

Giuliani, though, has refused to confirm this is the case, although it appears the former club captain could be on his way out.

"I'm not going to discuss contracts," said Ferguson last Tuesday. "The thing with Jamie is, there's obviously something building at the moment.

"It's purely quite simple, I pick the team, I pick the personnel that plays and at this moment in time, Jamie's not in the team."