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Then Blake has about 5 days to trade him before he loses all value. Some team out there will ship over a 4th or 5th to get him.
He has already lost his value. Any GM in the league can see the Kings are up against the CAP just by opening up CapFriendly. They know Blake is unlikely to QO him, so if they want him, they can sign him on July 1st as a UFA on likely better financial terms since his value has decreased somewhat. Why would they trade an asset when if they are interested they can have him without giving up any?