On Sunday Smith told the Providence Journal that his contract -- which expires Feb. 28 -- will not be renewed.
"A contract could not be worked out," Smith told the paper from the NFL Scouting Combine. "I was too high. They were too low. We wished each other the very best and parted ways. Just another NFL business transaction."
Signed in 2013 as a consultant to team president Bruce Allen, Smith was an advisor on personnel decisions. The Washington Post confirmed Monday the team wouldn't bring Smith back.
Allen indicated during the January press conference introducing new general manager Scot McCloughan that Smith's future with the team was in question.
The Redskins are putting personnel decisions in McCloughan's hands, rendering Smith rather superfluous, which is likely why they wouldn't match his asking price.