What do you mean it wouldn't be wise to rebuild?
It's the only solution. There is no retooling this mess. There is no money, no tradable assets, and very, very few prospects with NHL expectations.
The singular problem was committing so much money for that long to that many players. Giving ten years to an athletic goalie already well into his career was ridiculous. Brown has always been more fan friendly mascot than player, and the Kopitar deal was pure insanity. It didn't matter how good he is, the Kings were never going to be good enough during his prime years to justify paying him $10 million per during his mid 30's.
This team contracted itself into a corner and it can't get out. Nobody here saw that clearly enough time avoid that mess, and the stupid commitments to oldies like Phaneuf and Kovalchuk proves that they are incapable of "retooling".
The only way out of this is a full rebuild.
so with all those terrible unmovable contracts, this is how a rebuild would look like for LA:
tank... get stud young player
3 years RFA
stud player demands $10m - $12m/yr
LA can't, because of said bad contracts already on the books
LA forced to trade away stud player
tank again... get stud young player
3 years RFA
stud player demands $10m - $12m/yr
LA can't, because of said bad contracts already on the books
LA forced to trade away stud player
loop