The German WorldTour team announced the news via a statement overnight.
"Bora - hansgrohe and Sam Bennett have decided to go separate ways," the statement reads.
"Over the last six years, Bora-hansgrohe developed Sam Bennett into one of the best sprinters in the peloton. Against this background it however became more and more difficult to align the team’s and rider’s goals.
"Therefore, (team) management has decided to accept Sam Bennett’s wish to leave Bora-hansgrohe and continue his journey with another team.
"Bora-hansgrohe wishes Sam Bennett all the best for his future and hopes that he can live up to his sporting dreams."
With his official contract expiring at the end of 2019, the Irish fast man looked all set to move to Deceuninck-QuickStep for 2020. But the protracted contract dispute began some months ago as the team hoped to hold Bennett to an offer letter he was rumoured to have signed in May.
The 29-year-old, who notched 13 victories this season and three at the Giro d'Italia in 2018, was overlooked for selection for both the Tour de France and the Italian grand tour.
Last month, Deceuninck-QuickStep boss Patrick Lefevere told Cyclingnews, Bora-Hansgrohe offered a swap of Benett for Alvaro Hodeg but he declined, saying, "I’m not interested in trading cattle."
