Have you never heard of gardening leave?
Am I in a world where someone doesn't understand that an employer is well within their rights to tell an employee to stay away?
It is as simple as that. The club say to the player "you're not in the squad, you're not allowed to make use of the squad facilities, don't come to work, you'll receive full (basic) pay"
If the player won't sign for another club, this is the only solution. Under no circumstances should we throw a fuck ton of money at them and release them. That's an even worse financial decision than signing the useless twats in the first place.