"Peter is very happy about the way things turned out and is happy for Arie," Peter's manager Joe Yuasa told E! News in a statement on behalf of the Wisconsin personal trainer and business owner. "He thinks ABC made a great choice."
Producers selected Arie for the gig seemingly only because negotiations with Peter fell through. Rumors swirled that Peter played hardball with producers when they wanted to cast him as the Bachelor at the last minute and he made demands that couldn't be met.
"Peter is going to focus on his passion, helping people through fitness and wellness," the statement continued. "He is very thankful for the opportunity he was given with The Bachelorette. Things are going to be great for Peter Kraus fitness and his boot camps moving forward."
The night prior to Good Morning America's shocking announcement of Arie's official The Bachelor participation, Peter posted a cryptic message on Twitter.
"Never let fear hold you back. Lesson learned," wrote Peter.
Hours later, Peter posted a throwback photo from his The Bachelorette season on Instagram. He called the experience "the most incredible journey" of his life and said he struggled to "hold back the tears" as he was writing the caption.
"ABC, you saw something in me, but something held me back. You treated me with such love and kindness and showed me glimpses of a life I never once dreamed that I could have. I will be forever humbled and grateful and will always look back at these last 6 months with an ear to ear smile, knowing that this has truly been a very special life indeed," Peter shared.
"Upon leaving the @bacheloretteabc I was asked, 'what did you learn about yourself during this process?' And at the time I naively said 'nothing that I can think of.' Now... looking back... I realize I learned one of the single greatest teachings of my life."
Peter added, "When you let uncertainty or fear guide your decisions, you risk missing out on what could potentially be the greatest opportunity of a life time. So live dangerously, live without the fear of the unknown, and continue to live and love with a heart that is truly open to anything. #thankyou #lovealways."
Peter didn't elaborate on what type of "fear" he was referring to, but the bachelor talked about the negative impact media scrutiny and fan criticism -- including death threats -- had on him during The Bachelorette season once it ended.
Peter was also afraid to propose to Rachel at the end of her edition given the great significance of an engagement and the short period of time they had to get to know each other.
The Bachelor creator and executive producer Mike Fleiss tweeted in August, "Do we really want a Bachelor who isn't ready to settle down with a woman he loves[?] Hmm. Not what #thebachelor is all about."
As part of Peter's Instagram post on Thursday, he also addressed his relationship with Rachel.
"There are so very many things that I've wished I could say to you since the day we parted ways in Spain, but for everyone's sake, I'll keep it short... You gave me a chance and all that I can say is thank you. I have a heart filled with love for you now and always and wish you nothing but the best in your life and love ahead," he wrote.