Greg Smith will leave Derbyshire at the end of the current season after the Club elected not to offer a new contract.
The 28-year-old all-rounder has had talks with other counties and Derbyshire’s evaluation of Smith’s worth falls short of his expectations.
Chairman Chris Grant said, “Our estimation of Greg’s market value is less than he can get elsewhere so good luck to him.
“I don’t blame him for wanting to land the best deal he can but we are not going to get drawn into a bidding war.
“If there was a realistic chance of us signing him, we would have put a contract on the table, but we were not that close.”
Smith made his debut for Derbyshire in 2006 and he has gone on to make 72 first-class appearances as well as a further 109 games in the limited overs forms of the game.
He has scored 3727 first-class runs for Derbyshire to date, was capped in 2009 and captained the side for a short period towards the end of the 2010 season.