Ellis – who has played 176 games across eight seasons for the Tigers – is expected to sign with the Gold Coast Suns on Friday.
“Brandon has been an outstanding contributor to our team and our Club for a long period of time, and we respect his rights as a Free Agent,” Richmond List Manager, Blair Hartley told the club’s website.
“Brandon and the Club have been in constant communication throughout the season, and we would like to acknowledge the way he has conducted himself throughout the year.
“As always, Brandon has put the team first, and he is now a dual premiership player for Richmond.
“The Club will work through the process with Brandon and his management when the Free Agency period begins on Friday.”