I mean I think everyone wants Val to get right. From a human aspect we all do. But you also have to do what's best for your business/org/family in a situation like this. And cutting bait is the right thing right now.
I don't necessarily disagree, and I would imagine the organization might share that opinion. I think they would most likely cut bait and move on if they could this summer.
However, as CMac said, it's not an option to terminate his contract now. Doesn't seem like they have another option but to keep his contract on the books until at the very least, the six months is up on November 13th, and his eligible for return upon approval.
So they're going to have to plan what their roster is gonna be months before that. Probably in July. Unless I'm overlooking something, it seems like they may have to approach this offseason cap wise, as if Val's cap hit is gonna be on the team, becasue they'll need to be compliant in October.
Which leaves them with very few options come November, if the league lets him comes back by then.
A buyout most likely won't happen, especially with this organization. Trade might be hard to pull off, not only because of his history, but because not many teams will have cap space in November, and the Avs can't take back much if they're gonna make other moves.
So at best it would seem like they'd have to come to an agreement with Val to terminate the contract in November, which he may or may not want to do. We've heard he had some issues in the KHL too.
Lots can change in six months. Given their comments I don't get the impression they've 100% decided to move on. Maybe leaning towards it, but they may be open to giving him another shot if there is some sort of drastic, noticeable, and provable change in his attitude, and lifestyle, where they can just see he's been clean for months.
Then they'll have to make a new risk/reward calculation, and they may find themselves in a position where next year at least, the other options might be worse than the risk of him relapsing in the playoffs again. Then perhaps hope he gets one good year under his belt, and maybe trade him next off season.