IMHO he will either go back to Chelsea in some role but if he continues playing it will be at Swansea under Paul Clement with a coaching/No 2 role offered.
I would be happy for us to give him a 6 month contract and put him on the bench as I feel that he would be an ideal man to bring on for Sam Baldock rather than a defensive midfielder for a striker unless we are trying to close the game down.