I can't wrap my head around the logic of exposing Perron. He's without a doubt a top 5 player on this team, so the only justification would be the contract. If we're talking about contracts, I'd take his 1 remaining year at $4M over Tarasenko's 2 remaining years at $7.5M. There is a pretty decent chance that Tarasenko doesn't return to being a $7.5M caliber player and an overpay on a $7.5M deal is no less painful than whatever it would take to extend Perron.
Perron contributes more to the team right now and his points production this season has been better than any year of Tarasenko's career. Perron has played at a 29 goal and 72 point pace over the last 3 seasons. In the 3 seasons leading up to Tarasenko's injury issues, he played at a 36 goal and 72 point pace. Even assuming that Tarasenko returns to his pre-injury form, there is an argument that 1 year at $4M + an extension for Perron is better cap/asset management than 2 years at $7.5M + an extension for Tarasenko. I'm not sure that the extra 7 goals for this best-case-scenario Tarasenko is worth an extra $2.5M AAV. And this is before you even start worrying about Tarasenko's next 2 years potentially being a reduction in production from mid-20s and pre multiple shoulder surgery Tarasenko.
It is objectively clear that Perron loves the city/organization and will be open to an extension if he is protected. None of us know whether he will be open to a discount or whether he would be as eager to come back if Seattle takes him. But we can say with full confidence that he will negotiate an extension in good faith if he is on the roster next year. I just don't understand how it is worth exposing a 70 point player interested in returning to the franchise simply because he has 1 year remaining (at one of the best AAVs in the league).
We would have to protect Sunny AND Tarasenko in order to expose Perron. Both of them only have 2 years left on their deals, so you are really only buying yourself 1 extra year of either player than you get from Perron. Going beyond asset management, I love Sunny for what his but he is not more valuable to the team than Perron. Perron is a 70 point 1st line forward who plays 20 minutes a night, played 18 minutes per night in the Cup run and had 7g/9a in the Cup run. Sunny is a 15 minute a night guy that played 16 per night in the Cup run. He had 4g/5a on the Cup run and has scored at a 15g/16a pace over the last 3 years. He was fine when slotting up the lineup this year, but he didn't look like a true top 6 guy. Sunny brings a lot to the table and his contract is very good. But 2 years of his AAV as a utility knife through the middle/bottom 6 doesn't outweigh the value of 1 year of Perron's contribution as a legit top 50 NHL forward at $4M AAV.
Across the league, Perron is 18th in points this year and 45th since re-joining the team in 2018/19. He's a no-doubt 1st liner who has improved his game into and through his early 30s. His AAV is among the best values in the league. Exposing him in favor of two guys with less team-friendly AAVs over a 1 year difference in contract term would be an insanely poor decision.
