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His comments seem slightly strange, as he would surely have recognised that he was on a handsome contract before, having negotiated during the ITV digital boom two seasons ago - and would therefore surely have known that his wages would have to be reduced to fit in with the financial situation the club is currently in. Factor in the club's relegation and that means his wages would have to take a further drop to account for the reduced income at League One level.
Smith was rumoured to be on a weekly salary of around £4,000-£4,500 for the last few seasons, which means a 70% cut would mean he'd be on £1,200-£1,350 for the coming season, but this figure clearly wasn't enough for Smith or his agent, and Gillingham's skipper has walked away from Priestfield.
But was Smith dealt a rough deal? Gills365's sources from elsewhere in League One suggest that very few players would be on a contract paying much more than £1,500 a week, so £1,200-£1,350 a week for a player in his mid-thirties doesn't appear too unreasonable.
It is a shame that while other players (Mark Saunders and Ian Cox) in a similar position to Smith were able to agree new deals, Smith has decided to hit out at the club on his way out of the club. Why Smith felt unable to accept the terms of a new contract, while Ian Cox and Mark Saunders were, is something only Smith himself can answer.