I really think he would, or maybe rather I should rephrase it as squad player. He knows he can't play three times a week all season, not just for fitness but also to ensure when he does play he can produce, and his family is massively important to him and staying in Manchester for another year allows his kids to maintain their friendships and gives time to think about their next move. Getting that option of a balance between playing and playing in a competitive team, who challenge for trophies, is not common, and it's arguably ideal for a guy who's going to be 34 soon.
If he goes to America or the middle east, that's the end of truly competitive, prestigious football for him. It's also a huge change of lifestyle for not just him but potentially the whole family, maybe also his international career winds down, and he may just not want that. Maybe he's be ok with that on reflection, but by staying at city he has a chance of both game time and competitiveness.
Unfortunately I do expect I'm being overly hopeful and the decision is done, so have to just be ok with it. I do still think he has something to offer a title chasing premier league team, and I hoped for a better end to his city career given his importance to us, but it's not the end of the world.