The internet was saying he had a 4 year 8 figure deal, so I'm not sure how much he would fetch and whether Michigan set up his contract to get the difference. That said, it solves multiple problems for all sides if he leaves.
Fresh start somewhere else, and he maybe performs better having learned from mistakes at UM
The team that takes a chance on him is likely to pay decent $ based on potential
He becomes the fall guy for the program's poor season
Between that and the rumor mill, I'd bet he's gone.