Anzhi Makhachkala have denied reports that they are set to sign Felipe Santana from Borussia Dortmund.
The wealthy Russian outfit have been linked with a huge number of players since the club became a major force in the financial stakes.
Recently the likes of Marouane Fellaini, Barcelona's Victor Valdes, Vitesse Arnhem striker Wilfried Bony and former Chelsea youngster Michael Mancienne have all been linked with a move to Russia.
Dortmund defender Santana is another name to have been thrown into the mix, but Anzhi say that there is no truth in the stories.
A statement on their official website read: "Rumours on the internet that we are holding negotiations with several players including Felipe Santana have no grounds.
"FC Anzhi will inform the fans and the media of any transfers on our website."
The defender has not been offered fresh terms and will now leave the Ricoh Arena as boss Steven Pressley shapes his squad for an assault on promotion from League One next season in what will be his first full campaign at the helm.
Wood heads out of the exit door along with Jordan Stewart, Stephen Elliott, Nathan Cameron and Danny Philliskirk.
Pressley told the club's official website: "We need to refresh and re-invigorate the squad so tough decisions have to be made but I would personally like to thank all of the players for their efforts during my time here and I wish them the very best for the future."
Pressley also confirmed he has held talks with Southampton about the future of centre-half Aaron Martin, who has made 12 starts for the Sky Blues since joining on loan in late February.
