If he doesn't sign with us and no-one wants to pay then he is in limbo, perhaps till he reaches a particular age then he would be free to sign for whoever wants him. To prevent that he would be as well signing with us.
Regarding Chris Cadden as i've said before he's had a poor season. Maybe carrying an injury. If he moves on good luck to him maybe we'll get a right sided midfielder with a bit of pace who might score a goal or two in his place.