Wapenaar (pictured), Arno Arts, Marinus Dijkhuizen, Igor Gluscevic, Arno Jochemsen and Robert Roest are all out of contract in June are set to depart the Nieuw Galgenwaard.
Financial problems are the reason behind most of the departures, as Utrecht cannot afford to keep them.
Arts and Dijkhuizen were always expected to leave after falling out with the club's management, but the rest are a blow to Utrecht.
Gluscevic was offered new terms, but the Yugoslav refused to take a pay-cut and so he will leave, although Utrecht already have a ready-made replacement in Finnish prospect Paulus Roiha.
Jochemsen and Roest are regarded as squad players and although the club offered them terms, they are expected to be replaced by youth players come their departure in the summer.
The one major blow for Utrecht will be the loss of their skipper Wapenaar.
"The club has let me know several times that they want to keep me," said Wapenaar.
"Because of the financial situation it's impossible to stay. I will give the full 100 percent in the coming six months and then we see what happens.
"I am not surprised. After the news we received the previous months, you could expect something like that.
"The club can't say anything about my performances. It's up to me to work till the last second for the club so I can leave as a real gentleman."
