A brief statement from the Ibrox side read: “We can confirm that Carlos Pena is no longer a Rangers player. “His contract has been terminated. We wish him the best for his future.”
The Mexican international scored five goals in 14 appearances for the Light Blues after being signed by former manager Pedro Caixinha for around £2.2 million, but he fell out of favour following the Portuguese boss’s departure.
The midfielder was sent on loan to Cruz Azul in his homeland in September 2018, where he again teamed up with Caixinha, but off-field problems relating to alcoholism led to the deal being terminated.
Pena then joined Nexaca on a similar deal but the Liga MX side cancelled the loan two months early.
Last month the 28-year-old said: “I want to continue playing football, I am only 28 and I want another chance.
“Whether that is with Rangers or in Turkey or Poland I don’t know. I have until January 31 to make my mind up.”
Polish second-tier side GKS Tychy are understood to be keen on a deal for the former Guadalajara and Leon man, who was linked with Turkish Super Lig side BB Erzurumspor last month.
Gers manager Steven Gerrard said this afternoon: “The decision has been made above me by the board. Certain things happen at a club that are above a manager’s head. “The decision has been made by Dave King and the board, I respect it, and we move on.”