Gold Coast star forward Tom Lynch has been stripped of the Suns' captaincy after telling the club he wants to return to Melbourne.

Lynch, one of the hottest properties in the AFL, has confirmed he will exercise his rights as a restricted free agent at the end of the season, with Richmond, Collingwood and Hawthorn vying to secure his services.

The 25-year-old had already been ruled out for the season because of a knee injury that required surgery.

"I can confirm that the board, senior members of our football department and the player leadership group share a view that Tom should relinquish his captaincy of the club and therefore his position has been rescinded," Suns chief executive Mark Evans said in a statement.

"The club will continue to assist Tom with his rehabilitation from injury, however he won't be part of the football program for the remainder of the season.

"Tom understands all the mechanics of being a restricted free agent, which ultimately can't come to a conclusion until October."

Evans hinted the club had grown frustrated about the length of time it had taken Lynch and his management to reach a decision about his future.

"We've been in constant dialogue with Tom and his management throughout the year, early last month we had indications that the decision was heading this way and we asked Tom to give us a decision when he returned to the club," Evans said.

"He returned to the Gold Coast after surgery today and informed us and the playing group of his intent.

"We accept that the free agency system provides this option for Tom and will move forward with the best interests of the club at heart."

Tom Lynch informed his teammates of his decision to leave the Suns on Thursday. ( AAP: Julian Smith, File )

Richmond is thought to be frontrunners to secure Lynch's services, while Collingwood coach Nathan Buckley this month confirmed he had met with the Victorian native.

Lynch's most recent appearance for the Suns came in round 14 against the Hawks and he was restricted to just 10 appearances this season.

He won the Suns' best and fairest in 2015 and 2016, the same season he earned All Australian honours with the club.

Lynch played 131 senior matches for the Suns, having been drafted from the Dandenong Stingrays in 2010 before making his debut the following year in the club's maiden AFL season.

The Suns are 17th on the ladder, with a 4-14 win-loss return.

The news of Lynch's departure has immediately led to speculation about which club will gain his services in 2019, while others have seen the lighter side considering the Suns' poor record since joining the AFL in 2011.

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ABC/AAP