The former Kaizer Chiefs midfielder had initial intentions to stay with the club, who also wanted to keep him, despite their relegation to the GladAfrica Championship.
However, Mogaladi held meetings with all the players this week to discuss their plans for life in the second tier and it is understood that some of those meetings did not go well.
Mahlasela has now decided to leave the club after failing to agree terms on a reduction in his salary, for the same reason former head coach Clinton Larsen left last month.
"Mahlasela is free. We just settled it today. We are speaking to three teams at the moment but we are not going to rush into a decision," his agent Tshepo Mabona confirms to snl24.com/kickoff.
Meanwhile, striker Walter Musona – the brother of Knowledge Musona – is also leaving the Limpopo club.
"I'm getting my clearance," the Zimbabwean says. "Nothing went wrong, there was an agreement between me and the club."
Another source within the camp reveals that several players were unhappy with the new terms being offered in order to stay with Rise and Shine.
"The players went to see the chairman one at a time, and once your meeting with the chairman was finished you had to leave," explains the source.
"Most players came out of the meeting angry, their meetings didn't take that long."