The England player says the decision was in the best interest of both parties after months-long investigation into allegations of attempted rape.
“All those involved, including Mason, recognise the difficulties with him recommencing his career at Manchester United,” the club said in a statement on Monday.
“It has therefore been mutually agreed that it would be most appropriate for him to do so away from Old Trafford, and we will now work with Mason to achieve that outcome.”
The 21-year-old forward has been suspended by the Premier League giants since January 30, 2022, over allegations relating to a young woman after images and videos were posted online, although a criminal case was discontinued.
Meanwhile, in a statement to the media, Greenwood said the decision had been part of a “collaborative process” between him, his family and Manchester United.
“The best decision for us all is for me to continue my football career away from Old Trafford, where my presence will not be a distraction for the club.”
He had been due to stand trial on November 27, 2023, but all criminal charges against him were dropped in February.
“Throughout, we have taken into account the wishes, rights and perspective of the alleged victim along with the club’s standards and values, and sought to collate as much information and context as possible,” United said.
Greenwood said he “did not do the things I was accused of”.
“However, I fully accept I made mistakes in my relationship, and I take my share of responsibility for the situations which led to the social media post. I intend to be a better footballer, but most importantly a good father, a better person, and to use my talents in a positive way on and off the pitch,” he added.
Greenwood began his career at United’s academy and has played once for the England national team.