In remarks reported by Jamaican media outlets on Tuesday, the eight-time Olympic sprint champion said he had drawn a line under his hopes of playing football as a professional.
Mariners owner Mike Charlesworth had initially pledged Aus$1.5 million, but the deal now offered to the sprinter was much less than this, it added.
The eight-time Olympic champion has been on trial with A-League club the Central Coast Mariners since arriving Down Under in August.
The 100 metres world record-holder scored his first two goals in professional football on Friday when he started a pre-season game against second-tier Macarthur South West United in Sydney.
Despite his displeasure, it appears the Australian Sports Anti-Doping Authority guidelines mean he is eligible to be tested.
The eight-time Olympic champion made his debut late last month in a 20-minute cameo as a substitute during a friendly, starting in his favoured left wing position.
The Jamaican superstar is pursuing his long-held dream of playing professional football and arrived in Gosford, 75 kilometres (47 miles) north of Sydney, last month.
Eight-times Olympic gold medallist Bolt had his first training with the A-league team only a week ago and said he expected to feel nerves at the trial match.
Usain Bolt admitted to struggling with the constant stop-start of football, more used to a quick fire sprint on the athletics track before winding down.
A crowd of around 50 reporters and photographed crowded around the players tunnel at the Mariners' Central Coast Stadium to catch a glimpse of Bolt who smiled and offered a thumb's up.