Gilbert Arenas has broken his silence and confirmed that he did give his ex-fiancée former Basketball Wives LA star Laura Govan a fake engagement ring; but he also explained why.

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Arenas shared via Instagram earlier this week his logic behind handing Govan a fake diamond ring when he proposed.

"when u have a million dollar ring made you also have a fake one made JUST incase it doesnt workout...lets say it didnt workout and she has the fake one...".

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Arenas' post comes just days after Govan decided to file a lawsuit against Arenas after he reportedly took the ring he gave her. She apparently thought it was worth $1 million.

Arenas continued and wrote, "no need to forcefully take a ring back if its been sitting in a safe this whole time smdh..Why sell it when i can pass it down too my kids."

Govan and Arenas have four children together.

He also took time to use the post to shut down speculation that he abandoned his and Govan's children amid their split.

"didnt leave my kids for dead in washington,when i went to orlando..20k a month plus the 15,000sq house..the family decided to move too cali and moved into an apartment with 20k cash a month...deadbeat REALLY??..number 3...i didnt kick my family out the calabasas house, i left and moved into a 2 bedroom apt in woodland hills as of TODAY...which ive been in since jan 1st...".

Check out the post below.

 Didnt think ppl were this stupid too believe random [stuff]....number 1....i dont own a dispensary..i was trying to get a non profit license to be a owner in Los Angeles but these [people] wanted 1.5mil....number 2...didnt leave my kids for dead in washington,when i went to orlando..20k a month plus the 15,000sq house..the family decided to move too cali and moved into an apartment with 20k cash a month...deadbeat REALLY??..number 3...i didnt kick my family out the calabasas house, i left and moved into a 2 bedroom apt in woodland hills as of TODAY...which ive been in since jan 1st..last but not least when u have a million dollar ring made you also have a fake one made JUST incase [it] doesnt workout...lets say [it] didnt workout and she has the fake one...no need to forcefully take a ring back if its been sitting in a safe this whole time smdh..Why sell it when i can pass it down too my kids..

A photo posted by Famous In Real Life (@theagentzeroshow) on Mar 30, 2015 at 5:35pm PDT

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Basketball Wives LA, Reality TV, Vh1