McFadyen, 33, departs with ‘club legend’ status bestowed on him, having made 220 appearances.
Manager Ian Richards said: “I would like to say thank you to Liam. His contribution has been significant on and off the pitch during his time at the club.”
McFadyen arrived in 2014 and became a cornerstone of the Park Steels defence.
He spent the end of the season on dual-registration with Handsworth.
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