Striker Shola Ameobi will leave the Magpies before next season.
The 32-year-old came through the ranks on Tyneside before making his debut in September 2000.
He has made 397 appearances for the club over 14 years, scoring 79 goals.
More top news
Sunderland Football Club's new owner Stewart Donald has held his first press conference. He says he is 'unbelievably excited'
Ex-Sunderland midfielder Darron Gibson has been given a two-year community order and a 40-month driving ban after he admitted drink driving
A burst water main in the Newburn Bridge area of Newcastle has caused serious flooding. Northumbrian Water has declared a 'major incident'.