Peterborough United terminate contract of defender by mutual consent and he may quit football altogether

Wallin is even believed to be doubting his desire to continue in the game and instead looking to pursue an alternative career and to further his education.

Owner Darragh MacAnthony revealed last month that the defender no longer wished to play for the club and has returned to his native Sweden.

Since then, the two parties have been working on a deal to release Wallin from his contract.

The 24-year-old joined Posh last summer from Swedish second division champions Degerfors and appeared a total of 45 times in all competitions. He played four times this season with his final game coming in the 2-0 defeat away at Wigan on August 16. After that game, he informed the club of his desire to return home.

His highlight in a Posh shirt in undoubtedly his performance at Wembley in helping to shock Birmingham City and lift the Vertu Trophy last season.

Speaking about Wallin’s departure, Ferguson said: “It was a situation that came to us six weeks ago, just after the Wigan game where he felt like he wanted to go home and continue his education.

“It was a decision he’s very comfortable with and we have helped him with that. We didn’t want to pressure him into making that decision. There were factors as to why he felt that way and he felt that he had to go home. We have been very patient with him and we’ve terminated the contract.

“It is unfortunate but these things can happen. The most important thing is that Oscar his happy so it is the correct decision. We wish him and his family all of the best.

“He was a really, really good lad to work with, low maintenance, never gave you a problem, always trained and played his best. He had to adapt to a totally different league in terms of physicality and tempo and he got into that eventually especially beside Sam.

“He did well in the big games, I remember Birmingham away he did well and in the cup final he was excellent. He had some good times here and he enjoyed it.”