Certainly not good for the Orioles situation.
I put the probability of Santander being on the Orioles roster on Opening Day next year approaching 0%. He is a Super-2 this year and he's likely getting another bump into the 3-4M range next season and that's probably not happening for the Orioles.
This injury puts him (seems to) on the bench for a while and depending on that IL-time, gives him little opportunity to establish some value ahead of the trade deadline.
It creates a buy-low scenario for an interested team (we understand there's been some interest) as the Orioles are kind of stuck paying out the year between the injury, the trade-deadline and the non-tender deadline.
His .551 OPS is just sample size, he's good, but it certainly doesn't drive return in this situation.
If the opportunity for return is minimized and you get forced to the tender wall (sort of like the Iglesias situation last year), the Organization may just prefer to see what you can get now and pocket the 1+M.
Obviously they were hoping for a big first half and potentially drive some trade deadline value, but the slow start and now the maybe significant injury certainly changes the equation.