I do know that apparently the board were willing to almost match Dundee Utds offer, Archie on hearing this told them he could get better for that money.
http://www.eveningtimes.co.uk/sport/14429626.Bannigan_doesn_t_rule_out_staying_at_Thistle_as_he_opens_up_on_injury_nightmare/
Bannigan will stay if his injury is bad it seems.
To be fair he was released by a team from a division below us due to not getting a game,I can't see why you wouldn't be anything but underwhelmed. Delighted he's here for another year.