Morecambe manager Jim Bentley says he will not be offering a new contract to striker Danny Carlton.
The 29-year-old and reached the end of his deal with the Shrimps at the end of last season.
He was invited back for pre-season training in the hope of staying, but Bentley said financial constraints will prevent him from re-signing the player.
"I'm really sad we can't offer Danny anything," he told the club website.
"The worst part of being a manager is that you have to make some really tough decisions.
"He's worked really hard in the summer and looks in great shape and I would have liked to have kept him, but the money is just not there.
"I'm really sorry to see him go because he is a big part of the club and I really do wish him well.''
Carlton scored the goal that saw Morecambe promoted to the Football League in 2007, and after moves to Carlisle and Bury, he returned for a second spell at the club in 2011.
Meanwhile, Bentley remains optimistic of signing former Accrington striker Padraig Amond, who has been on trial with the Shrimps during pre-season.