Craig Hignett was made manager last week with the former Cambridge boss Money assuming a senior role ‘overseeing football matters strategically’.
But now that won’t be happening after all.
“Following discussions on Monday, Richard made it clear he didn’t want to burden the club with additional cost and offered to cancel his contract,” read a club statement.
“It was therefore mutually agreed that Richard should be released from his contract.
“During his time here, Richard assisted in a number of player signings, which we believe will be of benefit to the Club this season for which we are grateful.”
Owner Raj Singh said: “Whilst we are disappointed, I would like to thank Richard for his honesty.
“I respect Richard’s integrity and the fact that he didn’t wish to further financially burden the club and wish him all the very best for the future”