What an ugly and unfortunate situation. Of course a 2 year deal immediately springs to mind but it should just as quickly be dismissed. No matter how little you pay Woody to rehab in 2024, the amount you're paying him in 2025 will still be too high. He's not going to just spring back to pitching 200 innings and making 30 starts. And that's before even contemplating if he's going to be as effective as he has been before. If Woodruff is ever going to be a top of rotation starter again, it will be 2026 at the earliest, after a season of building up his arm and pushing an innings limit. If you then explore a 3 year deal, now you're committing 3 years of real dollars to a guy who may never return to top form. And what's to say Woodruff even wants to do a 3 year deal at a figure well below what he was projected for before the injury?
So when you accept that 2024 is completely lost, 2025 is at best a build back year, and 2026 is probably something neither side even wants to discuss, what's the point? It's all risk with next to zero upside.