Some say its because some new scandal or a resurgence of ugliness related to an existing one could put him in in the same place as his buddy Scooter. I don't buy that. If that was going to happen it would have already. The Libby pardon was held back as long as it could be to allow the smoke to blow over as much as it was going to.
The first reason that came to my mind was that he didn't want to be associated with the last year of the presidency because the next voting cycle is going to be all about which candidate is the least like Bush. Its going to feel a bit like the last days of The Alamo there in Washington. Why would Rove, credited as the architect of Republican success this last ten years, want to be associated with that?
That is what lead me to realize that there's a bigger reason. I am predicting that Karl Rove will sign on with one of the leading Republican presidential campaigns within the next few months. He'll let some time pass before making the announcement because no campaign wants to be seen as the direct successor to George W. Bush; but once time has passed and new scandals have replaced the current ones you'll see Karl given the puppet strings to the next Great White Hope to come from the Republicans.
Who will it be? I'm betting he has a better idea of who will be the nominee than you or I do.
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Second, I completely agree that he is going to sign up for another campaign,
but I think he will wait a while. There are just too many candidates, and he
needs to let some fall by the wayside first. The last thing he wants is to
back a loser. Also, the longer he waits the better, as it is going to be hard
to disassociate himself from Bush after all this time. He may even try to work
with a campaign covertly, since the candidates would all love to have his
strategic thinking, but none want his baggage.