On 1 October 2012, Goddard signed with Essendon and became the first big name to use the AFL's new free-agency period which debuted in 2012. Goddard had refused to sign a new three-year deal all season and instead opted to sign with the Bombers, who offered him higher pay and a four-year contract. Goddard was formally offered the deal by Essendon at 11am on 1 October, with St Kilda allowed 72-hours in which to make a counter offer. However, the Saints decided by the end of the day that they were not willing to match the offer, therefore allowing Goddard to join the Bombers. In making a formal statement of the decision, St Kilda head of football, Chris Pelchen, stipulated that the club had made a significant offer to Goddard "that was relative to both his position and other players within the team. While we are disappointed at his decision to leave the Saints, we are absolutely committed to our ‘team first’ philosophy in relation to player contracts." St Kilda's senior coach, Scott Watters, further elaborated on the reasons St Kilda chose not to counter the Bombers' offer: "As far as the offer that was put forward to Brendon, it would've put him in the top two highest paid players at our football club", Watters said. "The reason (for Goddard leaving) is money. It's that simple." St Kilda was said to have offered "significantly more" than $500,000 a year to Goddard.