The upshot to this, if he can indeed turn it around, is that we may be able to sign him for much cheaper if he does indeed resign. I'm not sure many teams (except those bastard yankees) would want to pay the outrageous prices "old" pedro may have commanded.
Hopefully we will sign him for what he is worth right now, I'd say thats about 14 million or so. He's still a damn good pitcher with some years left in him, there's no denying it. This recent Bronx disaster can be considered a setback, but not a career ender.