Alan Pardew is weighing up chasing a big-name summer signing to boost Crystal Palace's profile.
Manchester City boss Manuel Pellegrini insists the recurring outspoken comments of Yaya Toure's agent are not a big problem.
The 26-year-old was signed by Ian Holloway, who also worked with Grandin at Blackpool during the player's three-year spell.
Grandin only played one match during his time at Palace, the 2-1 defeat to Bristol City in the Capital One Cup last August.
"Crystal Palace Football Club can today confirm that Elliot Grandin has left the club by mutual consent," a statement from Palace read.
"Crystal Palace would like to thank Elliot for his services to the club and we wish him all the best for his future career."