Albert Adomah has rejected Barnet's offer of a new improved contract that would have made him the highest paid player in the history of the club.
The club, as chairman Tony Kleanthous promised when the offer was made, "regretfully" accept the player's decision and will not stand in his way if an acceptable offer for the club and the player comes in.
Barnet turned down an offer from Blackpool two hours before the close of the last transfer window and the chairman revealed at that time that Watford and Norwich City had also made bids and many Championship clubs had expressed interest.
A statement from the club today says that the decision of the 21-year-old winger to say that he wants to move on could lead to a bidding war when the transfer window opens in January.
With the Bees unbeaten at home this season and in the mix for a play-off place in a tight race, manager
Ian Hendon would be given money to strengthen the side if Adomah goes.
The player is in the final year of his contract after signing from Harrow Borough and would be able to leave for nothing by rejecting a new deal ... although Barnet would be due compensation from a club he joined as he is under 24.
This is the second time Adomah has rejected a new deal. He was transfer listed at his own request 14 months ago after chairman Tony Kleanthous turned down an offer from Plymouth Argyle and revealed interest from other clubs.
Adomah, who has scored 17 goals in 87 appearances for the Bees, has been a key figure in the Bees' good start to this season under manager
Ian Hendon and his staff and the club had hoped that he would stay to help their aspirations of a challenge at the top of League 2.
The statement on behalf of Mr Kleanthous and the board of directors said: "Although Albert has made it clear that he wants to move on, relations between the club and the player remain amicable. We respect his decision and reluctantly accept his position.
"There is obviously a lot of interest in him and his stated decision to want to go could lead to a bidding war in January.
"We have made it clear, whether he signed the new offer or not, that if an offer comes in that is acceptable to the club and the player we would not stand in his way.
"Albert has done a great job for this club and we showed by our offer that we appreciate what he has done and our keenness for him to stay.
"Hopes are high that we might achieve success this season but, while this might be seen as a blow to our aspirations, we wish to make it quite clear that manager
Ian Hendon will be given money to strengthen the squad if Adomah moves".
Dennis Signy