I don't think the kids thing had anything to do with it. Just like he clearly never said something that really meant he wouldn't want to play for a rival like LA. He took a bit less money (he's already filthy rich), to play for a better team for a chance to win a title.
I think Toronto really never had as much of a shot as even this story implies. I think if LA or another contender hadn't made a good pitch, we would have been his fallback, and that's why he didn't agree to something with Toronto after the first or second day of talks. Coming to Toronto would've been like a transition contract into retirement, acknowledging he's not going to get a chance to play for a legit contender again.