We have a ton of depth on defense, and plenty of cap space to sign him (as long as he's fairly cheap, which, after getting bought out for that much money, he should be). I don't see why he would come here, but if he did I don't really see the harm in signing him for depth. A guy in his circumstance will probably be looking to sign with a contender of some sort - his age is catching up with him, and as was mentioned above, he should be humbled and willing to accept his fate.
For these reasons, I think the Ottawa Senators will be #1 at the top of his list. He spent his best years there, and they are a team that is looking for defensemen after losing Jared Cowen for the year.
So with the Commodore fiasco still on the books, why would we want Redden? I'm curious who is interested in him, Howson or JD?
I'll go ahead and handle all scenarios here, under the guise of "normal board member"
If it's Davidson: "Clearly he sees someone that would bring a stabilizing veteran presence to a young blueline. It would also allow one of Moore or Savard to spend more time logging 25 minutes a night in Springfield, which can be nothing but positive for their development.
If it's Howson: "Did someone forget to pin his mittens to his jacket? I'm hilarious."
Outcome - favorable
If it's Davidson: "That's why he was hired, to find guys who can still produce despite minimal interest elsewhere."
If it's Howson: "Obviously he listened to Davidson."
Outcome - dismal
If it's Davidson: "Clearly this was a Howson move."
If it's Howson: "That one-year deal is absolutely crippling. Does anyone else Nikita Filatov?"