Gene Simmons has insisted the decision to sell off the KISS back catalogue was not motivated by money.
The band have sold their entire music catalogue as well as their likeness and brand name to Swedish entertainment group Pophouse with reports suggesting the deal was worth as much as $300 million but Gene is adamant the sale was not a purely financial decision - insisting the veteran rockers wanted to retire gracefully and start "enjoying life".
He told PEOPLE: "[Money is] not what [the sale is] about. It's about enjoying life. I'm certainly blessed."
Pophouse was co-founded by ABBA star Bjorn Ulvaeus and has previously acquired the back catalogues of artists including Cyndi Lauper and Avicii, while the company was also involved in creating KISS' digital avatars that were debuted at their last ever concert.
The group played their final gig at Madison Square Garden in New York City in December before retiring from the road for good, and Gene says they have been planning their exit to bow out gracefully.
He added: "Life happens while you're busy making important plans. We were planning our respectful, proud walking off into the sunset, because we've been touring, we had been touring for half a century. [We] didn't want to" go the route of continually touring until they physically couldn't anymore.
"I don't want to go out there with my walker ...
"We've all seen boxers and artists who will stay in the ring too long and get knocked out by some amateur. You don't want to do that, you want to go out on top. And we did it the right way, out of respect and love for the fans."
Gene went on to reveal he's now focused on performing with his solo act the Gene Simmons Band and running his restaurant/bar/concert venue Rock and Brews.
