One would assume by now that Sakic/MacFarland have had enough discussions with their lawers, the league, the PA, and Nuke's agents to know what it will cost to terminate the contract. If not, they really aren't doing their jobs. It's possible a trade somehow comes up before then, but unlikely. It's also possible that an ordinary buyout could be more attractive. And it's possible that no trade comes up, and a buyout or termination don't look attractive, and they default to bringing Nuke back. I think that last option is extremely unlikely.
But yeah, I'd be shocked if the Avs front office doesn't have a very good idea where that situation will lead.