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Found a hint at its length from https://www.syracuse.com/sports/2018/06/baldwinsvilles_alex_bono_signs_contract_extension_with_toronto_fc.html

"Bono said it's a four-year deal that kicks in next...

Having him on the payroll and not playing also doesn't help the team. Unfortunately, this is a lose-lose situation. If the decision has been made that Jozy doesn't see the pitch in a TFC uniform...

All a bit of game, isn't it? As you note in your post, Europe is likely not call for him, so maybe that drives the price down a bit...