Goalkeeper Frank Rost will leave Hamburg at the end of the season and may consider retiring altogether.
The 37-year-old shot-stopper has decided it could be time to either hang up his gloves or move abroad for a new challenge after four years with the Bundesliga outfit.
However, club chairman Carl Jarchow insists there may still be a role for Rost to play with the Rothosen once his contract expires.
"It was basically always certain that this would be my last year for HSV and in the Bundesliga," Rost told the club's website.
"It is good that things have now been finally discussed and that we have reached an agreement.
"I am looking forward to my final games for HSV. After over 20 years in professional football, I will enjoy this and say my goodbyes from all of my friends and the Bundesliga.
"It is time to start something new, even if I am certain to remain in football."
However Jarchow seemed keen to keep Rost at the club, adding: "We can certainly imagine finding a job for him within the club, if it corresponds with his plans."
Rost has made 143 Bundesliga appearances for Hamburg since joining them from Schalke in January 2007.