I've heard the same rumors you've heard about Joselu. Real Madrid want to renew his contract for at least one more season even though the player has no chance of playing in the regular XI. Real Madrid only want to keep this player in the team as an additional support. For example, if an important player in the regular eleven is injured, then he may plan to play in his place.
I also know the rumor, but I think Joselu doesn't want it. The rumor of he stays in Real Madrid was over, Joselu seems clear to move to another team. Actually we don't where he will move. Even if many people assume he will go to Saudi, but there is still no official statement from the player. We only can guess now, he may stay in La Liga or move to another league.