Real Madrid and Pedrag Mijatovic have reached a mutual agreement which will see the sporting director leave the club.
The decision sees Mijatovic walk away from Santiago Bernabeu a year before his contract was due to expire.
The former Real striker was expected to leave the club following Ramon Calderon's departure as president in January following a vote-rigging scandal.
A statement on the club's official website read: "Real Madrid's board of directors and the club's sporting director, Pedja Mijatovic, have reached a mutual agreement for the termination of the latter's contract, which was originally set to end in June 2010.
"The board wishes to express its most sincere gratitude for the work Pedja Mijatovic has done in the past three seasons, during which the club won two league titles (2006/07 and 2007/08) and one Spanish Super Copa (2008).
"Real Madrid and its board wish Mijatovic all the best in his future personal and professional endeavours."
Mijatovic said in a separate statement on the website it was the right time to go with elections for a new president coming up on 14th June and added that two league titles and a Super Cup during his three years in the post represented a positive legacy.
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