The midfielder joined Wolves at the age of 16 and rose through the ranks, signing his first professional contract in 2017.
The following year the Scotland under-21 international made his first-team debut under Nuno Espirito Santo when Wolves beat Sheffield Wednesday in the Carabao Cup.
Watt played a key role in the Wolves under-23s’ promotion to the Premier League 2 Division One last season, before spending time on loan at Carlisle United prior to lockdown.
Wolves would like to thank Elliot for his efforts at the club and wish him the best of luck for the future.