'I just didn't feel the time was right. Although it's life-changing money, I'm comfortable with my decision in the long run and I hope it serves me well.'
England fast bowler Mark Wood said he withdrew from Thursday's Indian Premier League players' auction so that he could spend time with his family and get some rest ahead of a busy second half of the year.
Wood was one of eight overseas players slotted into the highest bracket of the auction alongside players such as Australia's Glenn Maxwell, who was sold for 14.25 crore ($1.96 million) to Royal Challengers Bangalore.
"First and foremost it was my family," Wood told reporters. "We can't see our families while we're with England... I wanted to be able to switch off, go back home and recharge for the second reason -- which of course is being ready for England.
"I try to prioritise that. I don't want my body to fail me, or be a bit bruised mentally or physically going into the end of the year which includes the (Twenty20) World Cup, Ashes and a big series against India.
"Obviously there have been some big names going for big money, it's great for them. I just didn't feel the time was right. Although it's life-changing money, I'm comfortable with my decision in the long run and I hope it serves me well."
Wood was rested for the first two Tests of the ongoing series in India and is set to return for the third Test, a day-night game which begins in Ahmedabad on Wednesday.
England's rotation policy has been criticised by its former players but Wood defended the board's policy to give players a break from life in bio-secure bubbles.
"I think the ECB have made a good decision and are looking after players," he said.
"From my point of view as a multi-format player, when would you get that break or that switch-off? Would you be able to keep performing at the level required if you're mentally tired or physically tired?
"We've got a massive squad and huge depth of talent, so it gives an opportunity for everyone."