STANLEY’S record appearance holder Paul Mullin admitted he couldn’t accept the Reds new deal - and is now on the transfer list.
The 35-year-old star striker has one year left on his Reds contract.
He was offered a new two year deal earlier this week but, in the current financial state with the club operating on a reduced playing budget, Mullin said he would have had to take a substantial pay cut if he signed it which he says is impossible.
And so the club will let it be known that they are open to offers for the fans’ favourite.
"I have spoken to the gaffer and they offered me a new two-year deal starting this season but it was at a much reduced rate," said Mullin, who is a trained financial advisor and is currently taking his UEFA B license.
"I am more than happy to stay at Accrington - everyone knows how much the club means to me - but I just couldn’t accept the new deal. It was a substantial cut.
"I have a family to support and am coming to the end of my career and have to be realistic.
"I still have a year left on my contract and the club do need me off the wage bill so they suggested putting me on the transfer list and letting me go.
"I accept the situation as I understand it is the best for the club and will just have to see what happens now. "
Mullin was the subject of a £75,000 bid from Shrewsbury in January 2008 - which the club accepted but Mullin turned down - and also a £55,000 offer from Rochdale in January this year - which the club rejected.
Stanley chief executive Rob Heys said: "Paul has been a tremendous player for Accrington Stanley during his time here.
"However at a time when all clubs are reassessing their wage budgets it is difficult to accommodate Paul in our pay structure going forward, and this is the only reason that we have put him on the transfer list.
"We have spoken to Paul and he is happy with the club’s decision.
"He has written himself into the history books here at Accrington Stanley and his actions on and off the pitch have won him a lot of friends in and around the town.
"Also, of course, until any offer is received, accepted and Paul is happy with a deal then he is still very much an Accrington Stanley player with a year left on his contract."
Mullin, who signed for the Reds in 2000, was due a testimonial match this year as he chalks up 10 years service at the FES and he has been a huge part of Stanley’s remarkable rise from the UniBond Premier Division into the Football League.
However, he left in March to join Bradford on loan in a shock move.
While he enjoyed his spell there, it didn’t work out as the Bantams missed out on promotion at the end of the season.
"It was just a new experience for me and, if I had the chance, I would do it all over again," said Mullin.
"It was new surroundings, the training facilities were second to none but, the problem was, the results weren’t great.
"When I went there they were on an indifferent run and there was a lack of confidence in the dressing room which we never really recovered from.
"It was such a shame. They were all very nervy games at that end and we struggled.
"But I did enjoy it. I expected to come back to Accrington for the new season and, if I am still here for the final year of my contract, then it’s certainly not a problem for me."