1. The team is expecting him to have a resurgence in 2013, which is why they re-signed him with a pay cut in 2012.
2. The team is looking to trade him for something instead of releasing him outright.
I'm leaning towards the latter of the two, personally. Despite the two off-years he has put together, he has the goalscoring pedigree that suggests that perhaps he could go off again with a change of scenery. That means he might have some trade value left. Considering how bad he was playing as a forward this year in Pareja's 4-3-3 formation, I don't see a reason to keep him around.
(Yes, Ben and I both do have Omar being traded in our Signing Spree posts, why do you ask?)
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Matt Pollard 