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The move is seen as one of many to come during the next few months and over the summer, in a bid to lower the wage bill and make way for new players to comeinto John Gregory's team.
Blatsis joined the Rams from Australian side South Melbourne for £150,000 in August 2000. Con enjoyed his time with South Melbourne and competed in the World Club Championships, as can be seen in our picture(right) when South Melbourne took on Manchester United.
Having only started twice in the Rams first team this season, he has been out on loan at Sheffield Wednesday, completing eight games for them.
For more information on our departing friend click here.