well, if he was openly bailing, then you did the right thing.
i got into it with the guys in my league after working out a deal for manny ramirez (gave up casey and kearns, pre-injuries). this owner is a big reds' fan, said it would be easier for him to follow his team if he had more reds. i obliged. he was not "giving up", regardless of how the lopsided trade may have favored me.
but since your boy came out with the white flag, it's a different story. it would have been collusion.