Lincoln City release statement with ex-Sunderland forward now a free agent
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Last month it was revealed Maguire had been suspended by Lincoln City pending an FA investigation into alleged breaches of betting rules.
It has been alleged that Maguire placed 52 bets over a five year period, including during his four seasons at Sunderland.
The attacking midfielder made 125 appearances across all competitions during his time on Wearside, scoring 28 goals.
He scored a hat-trick for Lincoln City in a 3-1 win on his return to the Stadium of Light earlier this year.
A statement from the FA last month said: "Chris Maguire has been charged with misconduct in relation to an alleged breach of the FA's betting rules.
“It is alleged that the Lincoln City FC forward breached FA Rule E8 by placing 52 bets on football matches between 17 March 2017 and 12 February 2022. Chris Maguire has until Tuesday August 30 to provide a response."
In a statement of their own Lincoln City said: "Chris has been suspended by Lincoln City without prejudice until further notice."