St Mirren manager Danny Lennon has confirmed the club have withdrawn Ilias Haddad's contract extension offer.
The Buddies boss was keen to extend the 22-year-old defender's short-term deal that was due to expire next month.
However, he felt that, as things progressed, perhaps Haddad's stay was not in the club's best interests.
Lennon has hinted that finances have forced his hand, although he does not believe the Dutchman will have difficulty finding a new club.
"We have withdrawn the contract offer," confirmed Lennon.
"The opportunity was there for Ilias but as time went on there were one or two things that didn't sit well with me.
"I then felt if he was just going to be a bit-part player it was better to part ways.
"Ilias is a terrific lad and technically a very good player. I'm sure he'll get another club.
"If money wasn't an issue at this club then I'd love to have kept him and developed him as a player."