Salary.
Cap.
Malkin can be the most brilliant marketer this side of John Wanamaker or David Ogilvy but in the NHL he can't exceed the cap.
Panarin is a great, exciting player, but paying him $12 mil cap hit limits the Isles from icing a well rounded Cup contender around him, longterm.
So yes, can the owner tell his general manager that he wants to add some talent? Sure. And when the general manager tells him that he's overpaying for an asset and that it will hurt the team long-term, how does the owner respond? You think a good owner, who's knowledge base is real estate, is going to completely disregard his GMs feedback and overpay by approx. a $2 mil cap x 7?
The money itself isn't the issue, it's the lack of cap flexibility after paying a player like Panarin McDavid-type money that's the issue.
Paying Panarin more than Matthews, etc. is flat out fiscally irresponsible and risks of desperation. And that doesn't seem to fit the profile of the owner you just laid out.