I also think this is a contract ploy given that this will be his last major contract and a huge pay opportunity, for which I don't blame him at all. Fair play to him if they'd what he's doing and it's up to us not to be foolish.
Though the heart always says that he may actually be looking for a fresh challenge given that he has achieved everything with Madrid and he knows they are in Financial trouble and looking to rebuild. He's won everything there is to win and may want to witness a new league, where there are chances of silverware in the near future.
Ahhhh..., this is excruciating and for now I guess I'll let the logical reasoning part win, wherein he ends up signing an extension with Madrid