Penrith has confirmed that Tim Grant will terminate his contract, effective immediately.
Grant suffered a major pectoral injury in last week's win over Manly.
While there was a minor chance the 31-year-old would be able to successfully rehabilitate the injury and play again this season, Grant decided to pursue a season-ending surgery and terminate his one-year deal with the Panthers.
The former NSW Blues will take the rest of the season to weigh up his future playing options.
After nine seasons with the Panthers, Grant believes it was the right decision to leave at this time.
“While it’s obviously disappointing for my time with Panthers to end in these circumstances, I’m immensely proud of what I’ve achieved at the club,” Grant told the club's website.
“I want to thank all the Panthers members and fans for their kindness and support over the years.
“I strongly believe in where this club is going and I don’t want to stand in the way of the next local junior getting his chance in the NRL.”
Panthers coach Ivan Cleary praised Grant's contribution to the club.
“Tim has been a true professional that our younger players have been able to learn from,” he said.
“He demonstrates a ‘team first’ and ‘club first’ mentality, and through persistence and consistency of performance, he earned a starting spot this season.
“We extend our sincere thanks to Tim for his years of service to the club and wish him all the best for the future.”
Grant played 129 games for the club, making his NRL debut in 2007.