Derbyshire all-rounder Greg Smith will leave the club at the end of the season after failing to agree a new contract.
The 28-year-old has averaged 40 runs across 10 County Championship matches this year.
"Our estimation of Greg's market value is less than he can get elsewhere so good luck to him," chairman Chris Grant told the club website.
"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."
He added: "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."
Since making his Derbyshire debut in 2009 the South African has amassed 72 first-class appearances, scoring 3,727 runs in the process, and has featured 109 times in limited over matches.