"Newcastle United can confirm that Peter Beardsley is no longer employed by the club," the club said in a statement on their website https://www.nufc.co.uk/news/latest-news/club-statement-peter-beardsley.
"We are grateful for the contribution Peter has given over the years as a player, coach and ambassador and we wish him well for the future."
Beardsley, who spent the majority of his playing career at Newcastle, denied the accusations of bullying at the time and released his own statement after his exit was confirmed.
"The time is now right for me to seek a new challenge and I wish the players all the best and the supporters the success they deserve," Beardsley said.
"I have always honoured my contractual obligations of confidentiality to the club and maintained my silence, which has in itself been very difficult.
"I am incredibly grateful for the tremendous support I have received and I look forward to the future."
Newcastle launched an investigation into the allegations last year but did not publish a report on its findings.
El-Mhanni, who made two senior appearances for Newcastle, was released by the club last year. He was signed by League One (third tier) side Scunthorpe United in October.
(Reporting by Rohith Nair in Bengaluru, editing by Ed Osmond)
