Hernan Crespo has confirmed that his contract at Parma has been terminated but says he is yet to accept an invitation to play in the new Indian league.
Crespo, 36, announced in December that he intended to retire at the end of the season but, having made only four substitute appearances in Serie A this season, he has now decided to leave the club.
"I'm sad," he said. "I would have preferred not to do this but I had to for the Parma fans. It is not easy for me to today put a full stop at the end of my Parma adventure and 19 years of football at the top level."
He added: "Today the side is in tranquil waters and they have shown over the last six months that they can survive without me. I leave calmly, in the knowledge that I am not part of the technical project here anymore and because Parma are in good health.
"I didn't want to be a weight for Parma and it's not nice to be left on the bench or in the stands - that's why I took this decision."
Crespo had been strongly linked with a move to the new Indian football league concept, which will take place in West Bengal in March and April this year, and Barasat actually paid $840,000 - the highest fee at the auction - to sign him this week.
However, the former Argentina international claims the deal is by no means certain.
"They want to launch football as a product over there and they've invited me to take part in their championship, but I haven't signed anything and I won't necessarily go," Crespo said.
"I have options, but I didn't rescind my contract to go somewhere else. I have offers from India, China, Qatar and America, but nothing has been agreed. I'll continue to listen as I want to continue playing football because I enjoy it."