They could live with one bad contract, most teams figure out a way. Unfortunately, Campbell's not the only bad contract on that team. Darnell Nurse's contract is even worse and Deadmonton doesn't have the assets to ship him out, even if they wanted to. Those two combined for 17% of the cap, which is astounding.
Another issue: His contract's not the only bad thing. Campbell can't play. I don't even know if he's a backup in the NHL right now. It'd be one thing if he had a bad contract like Price, but Price was still a top tier goalie. You can't, however, live with that bad contract if he's the starting goaltender, he's playing like he's an AHLer and the backup's somehow even worse.
Deadmonton lost again to Vancouver - how the fuck is it November 7th and they've played three times already? And we don't play Toronto again until March? The NHL, man... not a serious league - and they're already running out of time. They'll probably fire the coach soon, which might give them a temporary boost. But in the end, Jack Campbell & Stuart Skinner are what they are·: Backup goalies at best.
I think Deadmonton only has one way out of this and that's my trade proposition. Get out of the Campbell contract and try your hand with Carter Hart, despite all the assets that will need to be given up. They might just be punting on the season otherwise.