Pardew said Newcastle had no choice but to sell after Cabaye insisted he wanted to quit St Jamesâ€™ Park.
He wrote in his derby programme notes: "PSG had been interested for some time but when they firmed up their interest and the player made it abundantly clear to us that he was very keen to complete the move, we reluctantly agreed to let him
"I want to make it clear that there was no desire from our owner, any of the directors or myself to sell Yohan and if finances were the only factor in our consideration the transfer would never have happened.
"Yohan leaves a far better player than he was when he joined us.
"We now aim to spend the money generated from this transfer wisely as we did when Andy Carroll left for Liverpool in the January 2011 transfer window."