Olympiacos cancels Real Madrid legend Marcelo's contract 

Real Madrid legend Marcelo has left Olympiacos after his contract was terminated by mutual consent.

The left-back joined the reigning Greek champions in September and received a hero's welcome in Piraeus but never managed to live up to expectations.

Transfer expert Fabrizio Romano claims the former Brazil international, who is now a free agent, will return to Madrid to be with his family.

The 34-year-old will then consider available options in other countries.

Romano tweeted: "Official: Marcelo leaves Olympiacos with immediate effect as contract has been terminated.

"Marcelo’s now available on the market as free agent.

"Understand Brazilian left back  will look for new options in other countries — while he’s back in Madrid with his family."

According to Marca, Real has agreed to let Marcelo train in their facilities to regain full fitness, something he never managed to do at Olympiacos.

The six-time LaLiga champion arrived in poor form and expressed his displeasure of being dropped from the squad just before last November's derby against rivals Panathinaikos.

Marcelo would often be left out of manager Michel's squad, even when there weren't any left-back options.

The defender has reportedly attracted interest from the MLS, Middle East and Brazil.

The Brazilian only managed 10 appearances for Olympiacos and three goals, all of which he scored against Chris Coleman's Atromitos across two games.

The Piraeus giants looked to offload Real's all-time most decorated player's hefty contract with Michel looking to cut down on his inflated squad.

However, Marcelo's arrival did lead to profit for the club thanks to the shirt sales.

The five-time Champions League winner issued a touching message to thank Olympiacos.

Marcelo posted: "I have lived unforgettable moments in Greece, in which I was warmly welcomed to a new home, not only for me, but also for my family.

"Piraeus and its people have all my heart and this won’t be my last time in this amazing country.

"I can only express gratitude for wearing the Olympiacos jersey. Even though the brief stay, the experience and the friends I made there will be forever marked in my life.

"Today I say goodbye but I’m leaving my affection and respect to the President, my teammates, all the employees and fans of the club. I wish Olympiacos a successful future!"

Olympiacos also bid Marcelo farewell with a message of gratitude, insisting he will always have friends in Piraeus.

A club statement read: "The entire Olympiacos family thanks Marcelo for his cooperation and presence at Thrylos.

"His stint was short, but enough to create lifelong bonds. He knows that in Greece, in Piraeus, he will always have friends!"