By Paul Fletcher BBC Sport Online

Dennis Wise, Matt Elliott and Tim Flowers have been handed free transfers as relegated Leicester attempt to cut their wage bill.

Wise was sent home last week from the club's pre-season tour of Finland after an incident that left team-mate Callum Davidson with a double fractured cheekbone.

A Leicester spokesman told BBC Sport Online all three players were informed before they left for the tour they would be given free transfers if they could agree personal terms with another club.

"Dennis Wise, Tim Flowers and Matt Elliott were all told before they left for the pre-season tour that they were being given free transfers," a Leicester club spokesman told BBC Sport Online.

"The investigation into Dennis Wise's breach of club conduct has still to take place."

Wise joined the Foxes from Chelsea in June 2001 in a �1.6m move, making 19 appearances and scoring once.

Elliott became the club's record signing when he joined from Oxford in 1997.

But with a huge wage bill at the club, Leicester manager Micky Adams told BBC Radio Leicester that he would have little choice but to let the influential defender leave for nothing.

"Fans have to understand the club is very strapped financially," said Adams.

"The decision was taken out of my hands somewhat because Matty Elliott is one of the highest-paid players at the club.

"I've spoken with Matty. It won't affect our relationship.

"He's shown a terrific attitude in training and in the matches so far.

"But I live in the real world and while it's disappointing to lose good players, it doesn't necessarily mean he doesn't have a future at the club."

Flowers moved to Filbert Street from Blackburn in July 1999 but has since been loaned out to Stockport and Coventry.