The contract terms Aberdeen offered Andy Considine would have forced the club hero to take a big pay-cut.
Considine is set to leave the Dons at the end of the season after the two parties were unable to agree a new deal.
Record Sport revealed on Tuesday night Aberdeen had withdrawn an offer to the 35-year-old and the club released a lengthy statement on Wednesday confirming he would move on.
A message from manager Jim Goodwin said a one-year deal with a coaching pathway into the Aberdeen academy was tabled but then rejected by the Scotland international.
But it's understood that arrangement was for less money than Considine currently earns, which wasn't mentioned in the statement.
The defender's camp proposed a counter offer for a two-year deal with a salary in line with experienced players at Pittodrie but well short of the club's highest earners.
However, no negotiations took place and Considine, who it's understood feels stronger than ever after a knee ligament injury and was keen to stay, will depart in the summer after a near 20-year association with the Dons.
In the Aberdeen statement, Goodwin insisted the outcome was "entirely a football decision" as he hit out at "leaks".
"I have to make these difficult decisions and take the emotion out of it," the Dons boss said.
"This is entirely a football decision and as manager of this club it is my job to ensure we have a dynamic squad fully equipped for the challenges of the new season.
"On February 10 the club offered Andy a new one-year contract, rewarding him with a six-figure guaranteed deal, and furthermore offered him the opportunity of a pathway into coaching with our youth academy, where the club would continue to invest in his future including his coaching badges.
“Andy’s agent on March 23 sent in a counter-offer which was over 50 per cent more than our offer in guaranteed wages, and for a two-year contract.
“During my confidential talks with Andy we discussed the parties being too far apart financially and the reality is that I cannot guarantee him playing time next season. Ultimately, and understandably Andy wants to play.
“It goes without saying that everyone at the club thanks Andy for all his efforts over many, many years at Pittodrie and we wish him all the very best for the future when he does leave.
“The focus now has to only be about trying to win the game against Ross County on Saturday.”
Goodwin also claimed the fact Record Sport broke the news rather than Aberdeen threw him and the club "under a bus".
