Quoting: poeticentropy
They don't need to clear cap space during the rebuild. It allows them to take on other bad contracts for assets but I'm guessing they would much rather have a franchise player in the organization to help sell tickets. Highly doubtful they compete for playoffs in the 4 years remaining on the contract. SJ would be so much better off without Karlsson preventing them from tanking fully, but it's not realistic to think they would give him up for free or pay to ship him out, so it's kind of a waste to consider those scenarios. They're going to camp on him unless the right deal comes along. Just because he would like to go to a competitor does not mean their hand is forced to trade him.
That's your opinion. He is an 11.5MM noose around their neck. His value will never be higher and very few teams want him. So they can keep him and lose 46MM in an industry that doesn't make a ton of money or toss him and get back 46MM and help their tank.
In 21/22 the revenue for SJ was about 150MM. Remove tax, operational costs, team budget, coaches, scouts, etc and you're looking at a fairly small profit margin. Now, if your team is winning, then you don't need to make money. But if you're tanking AND losing money, the owners are going to be unhappy.
As far as fans go. Yeah, they like superstars but they prefer winning. Stars who don't win still dont bring in large crowds. Then take into account that Karl misses about 20% of the season every year.... His departure isn't really going to eat into revenue.
So yeah, SJ ownership would be dancing in the streets if someone took Karl and his 11.5MM for a handshake.