Rasiak was only signed by the Royals last summer, arriving from Southampton, by previous manager Brendan Rodgers. Despite scoring some vital goals, he failed to hold down a regular place in the first team under Rodgers, or Brian McDermott.
He scored the winner in last weeks Carling Cup tie against Torquay but will now head to Cyprus to cut the wage bill at the club. He has been allowed to leave though on a free transfer, so its unlikely that his departure will free up funds for any new players.
Director of football Nicky Hammond told the Official Site, 'He is at an age where he wants to play regular first team football, he is fairly expensive for us so it is a deal I am happy with.'