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.
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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."