Schalke terminates Streit's contract

Schalke announced on Wednesday that the team has terminated the contract of midfielder Albert Streit.

Streit has not featured for Schalke's first team in over two years after a series of injuries relegated him to training with the reserves, which prompted Streit to threaten the club with legal action.

The 31-year-old, whose contract was set to expire next summer, has now reached an out-of-court settlement with the club, although no details were disclosed.

A statement on Schalke's website read: "The legal tug of war between FC Schalke 04 and Albert Streit has ended. The club has agreed to an out-of-court settlement and the employment relationship is dissolved."

Streit is now a free agent, but according to reports, has not ruled out retirement.