I think most would be made up if James stayed. But we really don't know what is happening behind closed doors. It's all assumption based on small fragments of info.
Benitez seems to be getting a lot of stick for this, but I don't think it's all deserved, especially without knowing the full picture. He may have assessed the squad and thought that while James is indeed a great player, maybe he is weighing up whether he can count on him long term, and this window is essentially the last chance to cash in.
The noises coming from James side are that he is happy to stay for a year, but that doesn't really do us any good in the long term. But while he may be happy to stay, this doesn't mean he is desperate to, or that he wouldn't jump at the chance to leave if he could, and let's be fair, who could blame him?
Perhaps the "it's Complicated" aspect of his position is that the club as a whole see the benefit of having him, the exposure, the increased following and new fans who were turned on to us purely because of James. And knowing they have the option of the extra year, maybe they would like to extend that.
But James might not be open to that. And in return, it's not beyond reason that the manager and the money men would then start to look to the long term instead, and put whatever fee and wages we could recoup back into the team now.
The alternative is we have him in a world Cup year, he does great, forces his way back into the national side and next year we watch our best player walk away for nothing.
From James perspective, signing on for another year with those exact same prospects, and coupled with a new manager who may or may not think he is the answer, and you can start to see where it is indeed "complicated".
So, in a summer when he has been nailed on to leave, then likely to/happy to stay, and then back to surplus to requirements, there is still the outside possibility of the M Night Shyamalan twist.
The new contract extension, if/when there is no serious interest shown.
It wouldn't be the strangest thing to happen this summer, which shows what a mental few months its been.