The sensational news was announced by the Broncos last night, after Inglis and his manager failed to sign before an agreed deadline.
The 23-year-old test centre’s move to the Broncos had been hanging in the balance due to an on-going dispute with Melbourne over a $113,000 legal bill.
The costs were incurred during court proceedings against Inglis when he was charged with assualting his partner Sally Robinson.
He escaped conviction, but the unpaid bill has proved a major stumbling block to his move to Queensland.
A statement from Broncos chief executive Bruno Cullen said that there were “no signs” of the matter being resolved.
“We have worked long and hard on these negotiations, as have the other parties,” said Cullen.
“But with training already underway and no sign of the matter being resolved in a manner that would benefit the Broncos and its playing roster, it is time for the club to move on.
“We think it is an honour to represent our club and thus felt compelled to place a deadline of this afternoon for Greg to sign the contract he and his manager had agreed to.
“He was unable to commit to the club so we felt we had to make this call.
“When the possibility of Greg coming to the Broncos arose some months ago, the club always said it was entering negotiations only because of the stature of the player involved.
“But we also said at the time that we were very happy and confident in the squad we had assembled.
“That statement still holds today.
“We thank the Storm and the NRL for their co-operation, and wish Greg all the best with his future and hope he can resolve it to his satisfaction.
“We know that this move will ensure the club is able to keep our current crop of talent together for many seasons to come.”
Inglis future now appears to be completely unknown, with the Queensland State of Origin player reportedly considering several lucrative deals to play rugby union in France.
Other rumours however have suggested that South Sydney are prepared to break the bank to sign Inglis.