Insiders expect an press release from Yamaha before the Indy MotoGP race announcing that Jorge Lorenzo and "the Big Y" have agreed on a new contract.
Lorenzo is essentially the last factory MotoGP rider standing--Pedrosa, Marquez, Rossi and Andrea Dovizioso have all agreed to new contracts, which, combined with the riders who already have contracts for 2015--Crutchlow, Pol Espargaro, etc--means that basically all routes of escape are closed for Lorenzo.
At this point the only possible alternatives to his Yamaha gig for Lorenzo are for the lead rider position at Suzuki or some kind of Ducati ride. Both of those would probably represent a level of machinery that Lorenzo has never had to deal with before in his MotoGP career. Both opportunities--which are probably more fiction than fact--would be rides that require a rider to be racing while simultaneously developing the motorcycle with very broad strokes. At this point neither ride will challenge for the championship and that inability would be a tough pill for Lorenzo to swallow.
Hence his re-signing with Yamaha.
Yamaha and Lorenzo want to re-new their vows, that was never a real question. The dilemmas between the two parties have centered around the length of the contract and the amount that Lorenzo would be paid, with the former two time MotoGP champ asking for a big raise over his current salary.
While most riders are doing multi-year contracts, insiders suggest that Lorenzo's newest Yamaha deal will be just one season in length, putting him back into the silly season next year as well.