The Galaxy quickly moved on, reacquiring veteran Donovan Ricketts, advancing in the CONCACAF Champions League and clinching a playoff spot while posting a 5-2-2 league record without Penedo; the Panamanian shot-stopper has yet to find a new club.
Currently at Panama's national team camp prior to a Tuesday friendly against Mexico, Penedo admitted he could've handled the situation differently.
"Maybe I regret it a little bit," said Penedo, to reporters. "I should have, probably, sought better advice."
Penedo also said his decision to leave the Galaxy had more to do with contract length than money.
Penedo, who recently turned 34, remains Panama's No. 1 goalkeeper. In 54 career MLS regular-season games, he posted a 1.09 GAA (third in MLS history among qualifiers) and recorded 17 shutouts. Also excelling in the postseason, Penedo logged four shutouts (seven games) and a 0.56 GAA.
Ricketts, 38, backstopped the Galaxy to the 2009 MLS Cup Final and 2010 Supporters' Shield championship. He was twice named MLS Goalkeeper of the Year, first in 2010 (LA) and again in 2013, with Portland.