Billy Bodin will not return to Torquay United when the winger recovers from his injury.
The Wales Under-21 international's contract at Plainmoor ran out this summer, only weeks after he suffered a
The 22-year-old in 2012 after an
"The wages that Billy was on were too much for this club," Torquay manager Chris Hargreaves told BBC Sport.
"For him at the moment he's got to kick-start his career somewhere else and we're not in the market to pay those sort of wages, so it's best all round if Billy tries his luck elsewhere.
"We wish him all the best and thank him for all his efforts here. It's an unfortunate end with a bad injury for him, but he won't be back at the club," added Hargreaves.
Bodin was the second-highest priced signing in Torquay's history alongside Effion Williams, with the £75,000 that the Gulls paid Peterborough for Leon Constantine in 2004 still being the club record transfer fee.