He is 35 in May and though maybe we could squeeze another year from him (probably at current David Silva levels though), making it sound like we would lose 20 years old is crazy. Both him and the club would look at all available options and if either have some optimal one, than parting the ways might definitely be the best one for all. He might get year or two huge contract in China or MLS, we might have some foreign player option that requires freeing the spot for it, etc
What is particularly something I don't understand is that lot of people think he is at age where he could produce regular performances in very, very demanding position defensive midfielder is. He is fit for his age, but he is not miracle maker, he can't play each 3 days in midfield at 34-35. Time to stop thinking this is 2016-2017, he is the player very close to retirement and he has physical limits that make it impossible to do what he was doing for us in last few years. He'll never be that kind of midfield force again.