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.