Town have confirmed that central defender Alex Bruce has turned down the offer of a new two-year contract. Bruce's current terms are up at the end of the season.
Chief executive Derek Bowden told the club site: "We have been talking to Alex's representative over the last couple of weeks and a new two-year contract was put on the table.
"We consider the offer to be a very good one, but I can confirm that it has been rejected. That is the end of the matter for now."
Earlier today, Bruce was linked with a move to Championship leaders Wolves, although reports in the Midlands say Mick McCarthy's club have denied any interest.
The 24-year-old has previously been linked with Championship sides Preston, Norwich and Burnley, League One Leeds, as well as Italian clubs Fiorentina, Napoli and Genoa.