The Islanders are nearing a multi-year contract extension with pending unrestricted free agent Josh Bailey, TSN’s Bob McKenzi reported on Thursday.
The contract extension is expected to have an AAV of around $5 million for a term of five or six years. Bailey is in the final year of his five year, $16 million deal he signed in 2013.
Bailey’s 47 assists are leading the team and his 62 points are tied for second on the Islanders this season. Both marks are a career best for the 10-year NHL veteran.
The 28-year-old forward also appeared in his first career NHL All-Star Game last month.
The reported price tag of the deal is a potential bargain for the Islanders, who also have to worry about re-signing star forward John Tavares this offseason. Considering the year Bailey has had this season, he could have commanded a higher payday on the open market.
A new deal for Bailey could also be positive news in the team’s quest to re-sign Tavares, who has repeatedly said he wants to remain a New York Islander but has not signed an extension.