Andy Bishop has turned down a new contract at Bury, with Alan Knill unsure of his leading scorer's future.
Bury had asked for Bishop to decide on the offer of a new deal by Friday and the striker has rejected the terms put forward.
Bishop is keen to play at a higher level and Shakers boss Knill will meet with the League Two club's board on Monday to discuss the next move.
"I spoke to Andy on Friday and he has decided that the answer is no, he won't be signing the contract, which is his right to," Knill told the club's official website.
"Now we wait and see, but I have a meeting with the directors on Monday to see what direction we take.
"It's not the end of it because I think he wants more time to think about it, I can understand that, but people have to understand my thought on this.
"The window dictates what happens now. He wants to play higher and that's fair enough. He wants to wait longer, but we are running out of time in case he does go."