From Despair To Where? When he left Leicester, they were the reigning Premier League champions and wanted to farm him out on loan deals in the Championship. At the time he felt his career was best served by moving permenantly and establishing himself that way.
He quite reasonable outlined his position to Leicester fans on Twitter. This appears to be no different. He stated that the club received what he considered a reasonable offer and felt that he deserved the chance to give it a go. Now that that offer has gone, he's rebuilding bridges and is looking to knuckle down again. I don't see how it's unreasonable.
My memory may be fading but as I recall he didn't make the 28 man squad for Leicester and that precipitated a transfer request to leave. He had no future there, it was either sit in the reserves or move.
This time he was almost guaranteed a start here, and although I can't begrudge him wanting to move to a higher level he was in fact moving for higher pay to sit on the bench. I can't see how that furthers his career.