Menzel will play SANFL football in 2020.
The former Tigers and Giants has played 48 games at AFL level.
Silvagni and the Blues have officially parted ways.
"This is a decision that is based around what is best for the club."
The Collingwood utility will pull on the black and white again.
Adelaide has taken a chance on the delisted Magpie
Stephen Coniglio will be the new captain from next year.
"He’s getting compared against the best captains in the competition."
Neil Craig will be joining Gold Coast in a part-time coaching role.