The legendary rockers brought The Song Is Over: The North American Farewell Tour to Florida's Amerant Bank Arena on Saturday night, and the 80-year-old guitarist joked that for a large sum of cash, he and frontman Roger Daltrey, 81, could be persuaded to perform for fans.
"It's so great you've all come out to see us this one last time," he told the audience.
"If any of you've got very, very, very deep pockets, Roger and I are always available for private parties!
"Seriously, it's great to be here. We're so pleased to see you all come out."
The 23-song set included the live debut of Going Mobile with Simon Townshend - Pete's brother - on lead vocals.
Simon has performed the song before, but it's the first time it's been played at a Who concert.
The track was penned by Townshend and originally released by the band on their 1971 album Who's Next, however, it was originally written for his abandoned Lifehouse project.
Townshend recorded the lead vocals, guitars, and synths, with the late John Entwistle on bass guitar and Keith Moon on drums.
Daltrey was not involved.
As their touring days draw to a close, Townshend recently confessed he would have been "happier" without The Who.
The musician - who co-founded the band in 1964 - has always felt the group were "beneath" him and he believes he'd have preferred to have followed his love of art instead.
He told The Daily Mail newspaper's Weekend magazine: "I always feel I wish I'd left before the band got famous and been an artist. I think I would have been happier ...
"I was deeply into a college course about how art was going to have a revolutionary function. So I felt The Who were a bit silly, maybe a bit beneath me, I'm afraid."
Asked how he saw things now, he said: "I feel the same. I think they feel beneath me."
Townshend admitted band mate Daltrey was unimpressed by his stance.
"Roger and I have conversations about this. Sometimes he thinks I should be more grateful," he said.
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