Downing said - "It got to a point when there were about 10 games to go and Pulis said to me, 'if you sign this waiver, the club will offer you something in the summer'. Steve Gibson literally promised me, we had a meeting and he said ‘if you sign this waiver to play the last eight games to try and get us promoted, I’ll offer you something in the summer – a reduced contract’.
Downing continued: “I said right, we shook hands, I signed the waiver, played in the last eight games, and then (CEO) Neil Bausor rang me and said 'you’re free to speak to other clubs, you can leave'."
So the key words are - 'sign the waiver to play the last eight games to try and get us promoted".
Boro were not promoted, and I'm pretty sure that the club would say that the deal was contingent on being promoted.
The MFC statement on this would say "extension if you sign the waiver AND get us promoted".