Marleau didn’t sign as a free agent in Toronto and leave a team and city he was with for 2 decades.. to waive his NMC to go back to San Jose. You don’t just sign hall of fame players to 3 year deals and ditch them after the first season for absolutely no reason.
He had a great season last year, he’ll be great this year, he’s earned his NMC and he isn’t going anywhere for this season or the next and I’m thrilled about it.

1st look at how his deal is structured. It's all bonuses that get paid on July 1st. It's so the Leafs can pay him on July 1st and trade him back for the 3rd year. The nmc is there so Leafs can only trade him to a team of his choosing. The plan was never to keep for the full 3 years. They can't afford him.

2nd why wouldn't he go back to SJ to do his final lap? That's if he's still playing. If he retires before that then it won't matter.

I don't know if Karlsson would be the guy I'd go after but sure why not?

I don’t see marleau going anywhere unless he wins a cup. Even then I’m not sure he will waive.