Chairman Paul Baker said "The club is extremely reluctant to part with Michael but he desperately wanted the opportunity to play at a higher level after eight years at Cheltenham Town. Michael had only one year left on his contract and, following discussions with him, it became clear that he could easily walk away for nothing at the end of the season."
Manager John Ward said "The Board have accepted the deal and I have no problems with that."
"As a manager you want to have your best players but this is a fantastic opportunity for Michael to establish himself in one of the top leagues in the country.
"He has definitely got what it takes to play at that level and I wish him nothing but the best. This morning he came down to the training ground to say goodbye to everyone in person and that is one of the reasons why he will succeed - he has his priorities in life right.
"I will now be stepping up my search for a defender and although there is nobody lined up to come in immediately, we are aware of a number of central defenders and will be talking to them over the coming weeks."
Good luck at Burnley Mike!