Lincoln City defender Ben Coker has left the club to join Stevenage on a one season loan.
The 30-year-old full back was signed on a free transfer by the Imps in August 2019, making just one appearance.
Coker was loaned out to Cambridge United in January, and will now spend next season in the National League with Stevenage.
Coker becomes the second player to leave the Imps in less than 24 hours, after midfielder Jack Payne signed for Swindon Town on Thursday evening.
The moves will free up spending after the English Football League announced Friday that a ‘squad salary cap’ would be brought in for clubs in Leagues One and Two.
Lincoln City will have fixed caps of £2.5m to spend on players wages, taxes, bonuses and other expenses as the EFL look to address the financial sustainability of football teams.
Clubs who exceed this cap will be issued a penalty that would be payable for every £1 in excess of the 5% overrun of the agreed £2.5m figure.
David Baldwin, CEO of the EFL: “The term ‘salary cap’ is an emotive one, creating the impression of a restrictive measure but we are clear in our view that this is neither the objective nor the likely effect of these changes to EFL regulations.
“The financial impact of COVID-19 will be profound for EFL clubs and today’s vote will help ensure clubs cannot extend themselves to the point that could cause financial instability.”