The 24 year-old's contract is up at the end of the season, and the club are hoping that, by placing him on the transfer list, they can get a transfer fee for him. They will, however, lose him for nothing if he leaves once his contract is up at the end of the season, on a 'Bosman' transfer.
Devaney was born in Cheltenham, and joined the club in 1999, after being a junior at Birmingham City and then at Coventry City. He was voted Supporters Player of the Year at the end of the club's season in (the old) Division Two.