The Cincinnati Reds declined their $20 million contract option on franchise legend Joey Votto's contract, according to a statement released on Saturday.

In the move, the Reds make the 40-year-old a free agent for the first time in his career and end a 22-year relationship that saw the Canadian star become a six-time All-Star and 2010 MVP.

After praising Votto's impact on the team and its surrounding city, the Reds said they aren't able to give him a significant role going forward.

"At this point of the off-season, based on our current roster and projected plans for 2024, as an organization we cannot commit to the playing time Joey deserves," Reds president of baseball operations Nick Krall wrote. "He forever will be part of the Reds' family, and at the appropriate time we will thank and honor him as one of the greatest baseball players of this or any generation."

Votto spoke about his future on the "Dan Patrick Show" in October. Amid jokes that he was retired, Votto asserted that he was simply unemployed.

He addressed the possibility that he wouldn't be a Red for the first time since 2002, acknowledging the team's option. While he hoped to stay in Cincinnati, he expressed a desire to return to the sport for at least once more season.

"The last couple years were crummy," Votto said. "I wasn't healthy for two years, so I'd like the play well. It's not the taste I want to leave in my mouth."

A reduced role probably isn't the note Votto wants to go out on. It would also be a position he hasn't been in since entered the majors. He was a part-time player behind veteran first baseman Scott Hatteberg in 2008.

The Reds will pay a $7 million buyout on his 10-year, $225 million contract, which was a franchise record. They finished the season with an 82-80 record.

Votto missed the start of the season with a shoulder injury that required surgery and kept him out for 10 months. The area started causing him problems again in August and he was placed on the injured list.

Over his career, he has a .294 batting average, 356 home runs, 1,144 RBI and 15 ejections. Many of those homers were exciting ones, like the 10 walk-off hits he recorded for the club.

He was ejected from what appears to have been his final game as a Red in the first inning. After the 4-3 loss to the St. Louis Cardinals on Oct. 1, he apologized to fans for the early exit.

While the Reds move forward with their rising talent, Votto will likely look for a full-time role elsewhere.