Veteran striker Dion Dublin has been offered a new contract by Leicester City, but six other established players have been released.
Foxes boss Craig Levein has hailed the 36-year-old's leadership skills since he joined the club last summer.
"I still see Dion as a striker and I told him that," Levein said.
Nathan Blake, Nikos Dabizas, Scot Gemmill, Keith Gillespie, Ian Walker - all full internationals - have been released, as has Lilian Nalis.
However, Levein confirmed that, in addition to Dublin, he would be offering young midfielder Stephen Dawson the chance to impress over the next 12 months.
Others waiting to hear if they will play a part in the club's future are James Scowcroft, Lars Hirschfield and Jason Wilcox.
Levein announced the overhaul of his squad ahead of City's final league game against Plymouth on Sunday and was keen to cite financial grounds for the clear-out.
"It is no secret that we have to take a large chunk of the wage bill this summer and obviously the players who are earning high wages are the main ones to suffer."
On his decision to retain Dublin, he added: "He is 36 and I don't expect him to be involved in 46 games next season. But I am not saying he is back-up. If he plays well, he will be involved.
"He is also a big enough influence in the dressing room to be able to lift us.
"He commands a lot of respect from the players, not just because of what he has done previously in his career, but also for what he has done since I have been here in the last six months."
Dublin - who can also play in central defence - has made 41 appearances for the Foxes since his arrival last year and scored six goals.