Australia skipper Ricky Ponting says the process of parting ways with Indian Premier League franchise Kolkata Knight Riders was "amicable" and the decision will allow him to focus more on regaining the Ashes and retaining the 2011 World Cup, to be held in the sub-continent.
KKR bought out Ponting's contract a day before the auction for the third edition, considering he will not be available for the whole season.
Ponting, who skipped the entire second edition of the Twenty20 tournament in South Africa, was bought for $400,000 by Bolywood star Shah Rukh Khan's co-owned side in 2008.
"It was an amicable process. I wanted to play for the Knight Riders but I was only available for a handful of games. For the all the right reasons the Knight Riders are looking for players who will be available for most, if not all, of the tournament in the hope of gaining more consistency after a couple of lean seasons.
"I fully understand and accept the situation. In the end it (agreeing to the buy-out) was an easy decision because it leaves me totally focused on the Ashes next summer and the World Cup," he added.
Former India captain Sourav Ganguly, who will lead the Kolkata outfit in the T20 tournament, also confirmed that it was an amicable decision as the Australia captain would not have been available for many matches.
"A player like Ricky is irreplaceable. We would not have done that if he was available for the whole league. He can't play for eight to 10 matches. It was a strategic decision taken after consultation with all parties," he said.
