I'd say it's extremely unlikely that Michael Jennings would go to the Eels of all places if he left, but if Panthers have p*ssed him off and that's why he wants out, that could make the Eels more attractive. As a player he sees them as the main enemy of the Panthers, so it could stand to reason that if he wanted out and was leaving on bad terms that the Eels would be the ideal place to go.
It would also make it easier on him and his family as he wouldn't have to move. But I honestly can't see him leaving. He's locked up for a while yet on pretty big money and has always loved it here and been a preference of his to stay. Unless Gus wants to get rid of him, but I can't see that happening.