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Bay will end up back with the Sox imo. The deal he "declined" today was the same presented throughout the season. He's gone this far he might as well see if any team offers a significant $ amount more than the sox.
I think the report of the Sox offering him 4/60 hurts his value a bit. Kind of deflates the agentspeak for Bay and Holliday being 100mil players...
Hopefully he ends up back with the Sox. one thing that helps is his agent is Joe Urbon not Scott Boras. The SOx will probably tell him to get what he can, then give them the opportunity to match/better it. That way there's no Boras "secret bidder behind the magic curtain" action and Bay ends up back in Boston.