Working on the premise that no-one is going pay close to his current wages and take him on permanently let alone actually pay a fee for him as well, a loan deal would be the only realistic option. If so I'd be interested to know what our minimum terms were. It would arguably be better to let him go for nothing in the hope that he actually played well ,got his confidence back up and established some resale value. As it is he just sits there without the opportunity to do any of that.
Regardless, what an expensive mess this is and that 1 year extension which was perplexing at the time now looks utterly utterly mental.