Hunt, who had featured in the last 14 Bantams league matches, has a clause in his contract entitling him to a new deal if he makes another appearance.
Jackson said on the club's official website : "Lewis has an option in his contract which states that if he plays 20 games for the club this season he is entitled to another year on the same terms.
"His appearance at Macclesfield last Tuesday took him 19 appearances, so if he had played on Saturday then the clause would have kicked in.
"Given that the playing budget is set to be quite tight next season, the club felt they weren't in a position to offer Lewis a contract at the moment.
"Unfortunately for Lewis, unless he decides to remove the clause from his contract, he will probably not play for us again this season."
Source: PA
Source: PA