Cherry-Evans officially informed Manly on Thursday he will not take up their two-year deal worth $1.4 million, effectively closing the door on any future with the Sea Eagles.
The half's response confirmed what he had announced on national television on Monday that this season would be his 15th and final one at Manly.
Cherry-Evans has confirmed he is leaning towards playing on, with the Sea Eagles' greatest ever halfback also their most capped player with 333 games.
"I wanted to confirm I was leaving the club now, rather than making a call later in the season, so that we can get on with our goal of winning a premiership," Cherry-Evans said in a statement.
"I love this club and this group of players.
"I am fully committed to giving my absolute best over the coming months to make this season the best it can possibly be for our team, our club and our fans."
His response came as the Dolphins declared they have the cash to splash on the veteran halfback, and Roosters coach Trent Robinson left the door open for following suit.
"We haven't discussed it is the first thing," Robinson said.
"It's pretty rare that a player like that comes on the market, especially at this time of the year. We haven't discussed it as yet.
"But as a business you've got to look at it as well.
"I'd say we'll get to that when we know a bit more info, though, about decisions getting made as well."
Robinson's comments came as Brisbane ruled out a play for the 36-year-old, with Michael Maguire backing Ezra Mam and Ben Hunt if Adam Reynolds retires at year's end.
Cherry-Evans' situation is eerily similar to Cooper Cronk's in 2017.
On that occasion the Roosters signed Cronk, released Mitchell Pearce and won back-to-back premierships.
The Roosters currently have Chad Townsend on a one-year deal, while Robinson has previously spoken about wanting mentors for young playmakers Sandon Smith and Sam Walker.
"We're pretty clear about the development of them and that doesn't change. We're still heading on that path," Robinson said.
"We know which direction we're headed.
"You do have to be aware of movement (on the market) and understanding all that, but a lot of things have got to happen."
The Roosters also already have James Tedesco and Reece Robson on their books for next year, both part of the same management stable as Cherry-Evans.
If Cherry-Evans does stay in Sydney, the Roosters and Bulldogs loom as the most likely options for the 36-year-old.
South Sydney, Penrith, St George Illawarra and Wests Tigers have ruled out interest.
The other option for Cherry-Evans is a move north and the potential romanticism of finishing his career at the Dolphins, after his father Troy played for Redcliffe in the Brisbane Rugby League.
"I guess there is (a romantic notion)," Dolphins coach Kristian Woolf said.
"There is a lot of things that go into those decisions though. I don't know how much that weighs on his decision.
"The last 48 hours has probably caught everyone by surprise. It certainly caught us by surprise. We just assumed he would finish his career at Manly.
"The fact that's not going to be the case, we will sit back and watch what happens. If there is genuine interest then we would love to have a conversation."
Woolf said the Dolphins had the money available to throw at Cherry-Evans, with rivals expecting the half to draw offers of close to $1 million per season.
"We've got space in the cap, that is not a problem," Woolf said.
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