The Gold Coast executed one of its rights under the AFL rules to sign Rischitelli as an out-of-contract player.
Lions Chief Executive Michael Bowers said the Club was bitterly disappointed to have lost a quality player who is approaching the prime of his AFL career.
"The rules and regulations that the AFL has put in place for the expansion clubs are difficult to compete against," Mr Bowers said.
Rischitelli will be a huge loss for the Lions.
He was drafted with Pick No.61 in the 2003 AFL National Draft and after 111 senior matches in seven seasons with the Club has emerged as tough, ball-winning midfielder.
Rischitelli was an AFL Rising Star nominee in 2006 and has gone on to win a collection of Club awards including Most Improved Player (2006), Most Courageous Player (2008) and Most Effective Tackler (2008).
He enjoyed a career-best season in 2010 where he played in every match, averaged 24.1 disposals and led the Club in total kicks, handballs and marks.
While disappointed with his decision to move on, the Brisbane Lions AFC would like to thank Michael for his contribution to the Club.
