Pure conjecture (as was my statement . I'll remove 'good' from my statement.
They made him an offer (after paying him a crap load of money previously plus extending him when they didn't have to). He did not find any other offers on the market and is now not playing.
Again, they didn't pull the trigger on anything. He rejected their offer. How much more would they have had to offer him to stay???? We have no idea but since there was no market for him, they did the right thing by not offering him more.
Peace