Michael Doyle is set to join Coventry City.
Paul Cook had informed his skipper that he wanted him in his plans for the assault on League One next year.
However, the 35-year-old has decided against waiting around for a contract offer in favour of settling his future immediately.
Instead he will rejoin former club Coventry following their relegation to League Two this season.
With Doyle and his young family based in the Midlands, it also ends his long days travelling to the south coast.
The combatative midfielder becomes the first player to leave Fratton Park following the capture of the League Two title, with Enda Stevens soon to follow suit.