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Following the release of Thomas Butler and Stephen Bradley last month Dempsey and the club have agreed to 'rip up' his two-and-a-half year deal at the Pars.
Despite clearly struggling for form this season, Gary's departure from the club has surprised many with neither party - Dempsey or the Pars - willing to reveal the reason for the player's sudden exit.
With rumours suggesting that the midfielder's recent exclusion from the starting lineup had led to frustration on his part and subsequently annoyance from other first-team members due to the player's attitude, Gary's exit from East End does not appear to be as cut and dry as first imagined.
After struggling with injury throughout the season, Gary has failed to secure a regular first-team place or consequently achieve a run of form. Dempsey's form at the tail end of last season however will be fondly remembered by Pars fans as the Irishman displayed a string of excellent performances in the run-up to the Scottish Cup Final.
And although Gary's exit from the club does appear to have sour undertones, I'm sure everyone would wish Gary all the best in what will hopefully be a very successful career for an obviously talented footballer.