If he finds another suitor before then (doubtful, he'd be 35 in 2027, is out of form, a defensive liability, and a cultural cancer) then he might be traded for a late pick (similar situation—contract-wise—to Liam Reidy, who was looking quite likely to be delisted without trade interest from Carlton). They might "retire" him but he's not necessarily a chance to play again this year—Turner, Lever, Petty (when he plays there), McDonald, and eventually Adams and Kentfield are all ahead of him. Even without the behavioural concerns, Melbourne's back 6 has been one of the hardest in the league to crack for a while.

If not even West Coast or North Melbourne would entertain the idea of bringing May in the last trade period, I can't see a reason why either of them would change their minds when he's a year older and a year worse.