Athletic Bilbao have confirmed that Ager Aketxe is set to move to Major League Soccer and terminated the midfielder's contract on Friday.
Aketxe has been heavily linked with a move to Toronto FC in recent days, though the Spanish club did not specify Aketxe's destination within MLS.
The 24-year-old has made 12 appearances in all competitions for Athletic this season, but none since December.
He was most commonly used as a substitute in the Europa League, and he also started two matches in the Copa del Rey.
Aketxe spent last season on loan with Cadiz in the second division, where he scored five goals in 18 games.
Athletic said they will have the option to buy back the former Spain youth international in the future.