After only 31 games played at Barclays Center, both sides are believed to be exploring ways to modify the terms of their lease agreement or even sever ties altogether, according to the New York Post.
In 2012, Islanders owner Charles Wang signed a 25-year lease with the Brooklyn arena to have the team play there beginning this season, but a source tells the Post the agreement includes "a little-known out clause that kicks in after the fourth season that both sides could take advantage of."
Under the agreement, Barclays pays the Islanders an average lump sum of $53.5 million per year, while the arena retains cash made off tickets, suite sales, and sponsorships.
Jonathan Ledecky, who heads a group of investors set to take over ownership of the Islanders on July 1, is hearing complaints from longtime fans about the setup at Barclays - including high ticket prices and obstructed views - and is considering a move back to Long Island or to another venue in the New York area.
Nassau Coliseum, the team's former home, is undergoing renovations that include cutting its seating to 13,000, rendering it too small to host NHL hockey.
Barclays Center CEO Brett Yorkman, however, denies the report claiming the Islanders could play elsewhere in the near future.
"We are enjoying the first year of hockey in Brooklyn," he told the Post. "We are looking forward to a heated playoff run and a long future and partnership with the Islanders."
The Islanders rank 28th with an average attendance of 13,424, while posting the league's fourth-best home record at 19-8-4.
Ahead of the Feb. 29 trade deadline, we're taking a look at each division to assess who's buying, who's selling, and who's standing pat.
There are plenty of buyers and there should be a few sellers in the Metropolitan Division as the deadline approaches.
The Metro boasts the best team in the league and a collection of competitive clubs, most of which likely feel they have a shot at the postseason and beyond.
That competitiveness makes it tricky for teams to decide whether to go all-in or be patient, but it also likely gives the clubs the impression that they should try to improve.
Here's what we think each team from the NHL's most vaguely named division should do prior to the deadline:
Buyers
New York Rangers
The Rangers sit comfortably in a playoff spot, but after a Stanley Cup Final defeat in 2014 and a Game 7 loss in the 2015 Eastern Conference final, their window to win it all is slowly closing.
New York remains the oldest team in the NHL, and the team has several obvious needs, including a skilled forward to offset the loss of Rick Nash, and goaltending depth.
They'll have nearly $5 million in cap space on deadline day, and there are several forwards who could help generate scoring chances on the wing for a New York club that ranks 20th in even-strength Corsi For percentage.
New York Islanders
The Islanders will have nearly $26 million in cap space on deadline day, so taking on salary in preparation for a deep playoff push won't be a concern.
They're sitting in third place in the division, and while there's plenty of talent on the roster, the Islanders have an opportunity to improve.
Okposo, Frans Nielsen, and aging defenseman Marek Zidlicky are pending unrestricted free agents, but Okposo is the only one with considerable value, and general manager Garth Snow has been tight-lipped about the forward's future in Brooklyn.
Travis Hamonic likely remains on the trading block given his personal situation. If they're able to accommodate him before the deadline, they'll need to add at least one, or preferably two, top-four defensemen. Even if they can't do that, they could use an upgrade over second-pairing left-handed shot Brian Strait.
New Jersey Devils
The Devils are right on the playoff bubble when many expected them to be sellers by this point in the season.
New Jersey's top-six has exceeded expectations, and Corey Schneider has been excellent in goal, but with nearly $40 million in cap space projected on deadline day, the Devils are in position to address their current needs while also setting themselves up for the future.
A pending UFA depth defenseman like Dan Hamhius or Kris Russell would give the Devils a boost for their playoff pursuit, and if their hypothetical addition opts to walk at season's end, that would give New Jersey even more cap flexibility, allowing them to complete the rebuild in 2016-17.
Sellers
Columbus Blue Jackets
It's another lost season for the Blue Jackets, who hoped a healthier roster and the addition of Brandon Saad would vault them into the playoff hunt.
Columbus doesn't have much to sell, but they have even less to gain by buying or standing pat, and should seek every opportunity to clear cap space before the deadline.
The Blue Jackets have more than $25 million committed to five forwards for the next three seasons, and three of them (Saad, Brandon Dubinsky, and Nick Foligno) are on the books until 2020.
Columbus will have about $15 million in cap room on deadline day, but that will dwindle down to about $3 million by season's end.
Rene Bourque is a pending unrestricted free agent, as is defenseman Justin Falk, and the Blue Jackets should look to get whatever they possibly can for the pair.
Carolina Hurricanes
If the Hurricanes make the playoffs, they won't go far, so the future should be their priority.
Staal hasn't played well recently (one point in his last eight games), so his value is low, but plenty of teams would likely consider the veteran forward, who has playoff experience and a history of scoring prowess.
Carolina has a ton of pending UFAs, including Staal, Kris Versteeg, Nathan Gerbe, and goaltender Cam Ward. It'll be a tough sell to fans if the Hurricanes are in a playoff spot at the deadline, but if they're on the outside looking in, Francis should put up the "for sale" sign.
Philadelphia Flyers
The Flyers, like the Hurricanes, are caught between an opportunity to rebuild and a potential playoff spot.
Philadelphia is five points back of the final playoff spot, three points behind Carolina. This won't be the Flyers' year, but they're in better shape than the Hurricanes in the long term.
Still, Sam Gagner is in the final season of his contract at a cap hit of $3.2 million, and R.J. Umberger will be an unrestricted free agent after next season, although he comes at a cap hit of $4.6 million.
Neither player appears to have a future with the Flyers, and Philadelphia should look to move whichever non-core pieces they can to help facilitate the club's resurgence.
Standing Pat
Washington Capitals
This is the Capitals' best chance to win a Stanley Cup in the Alex Ovechkin era, but they don't need to do anything significant to ensure that happens.
Washington will only have about $1.1 million in cap space on deadline day, and while the Capitals do have a couple of pending UFAs, it would be shocking if they did much to disrupt a roster that's been unrivaled to this point.
Pittsburgh Penguins
The Penguins haven't exactly lived up to expectations following the Phil Kessel trade last summer, but they're still one of the Eastern Conference's most dangerous teams when Evgeni Malkin is healthy.
Pittsburgh is up against the cap, with less than $2 million expected to be available to general manager Jim Rutherford on deadline day.
They're in a wild-card spot now, and Malkin is close to returning, so given their financial limitations it wouldn't be surprising if the Penguins showed restraint on Feb. 29.
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The Carolina Hurricanes goaltender has earned at least a point in his past 10 starts by posting a record of 6-0-4, tying his career high set from March 14-April 7, 2009 (9-0-1).
The run of strong play extends back to the beginning of 2016, and was interrupted twice as Ward missed six games with a concussion and another two with a leg injury suffered during a win over the New York Islanders, in which he played long enough to be credited with the victory.
Ward is in the final season of a six-year, $37.8-million deal signed with Carolina back in 2010, and approaches the trade deadline as an impending unrestricted free agent, and therefore a candidate to be dealt.
At the same time, the Hurricanes are somewhat surprisingly hanging around in the Eastern Conference wild-card race, sitting two points behind both Tampa Bay and Pittsburgh, albeit with more games played.
Ward's string of success means general manager Ron Francis will have to decide whether to ride it out in hopes of qualifying for the postseason or sell his goalie to the highest bidder prior to the Feb. 29 deadline should trade opportunities present themselves.
For Ward, who carries a .910 career save percentage, staying hot down the stretch can only bode well for his future, in Carolina or elsewhere.
REGINA - Connor Hobbs scored a hat trick and added an assist as the Regina Pats got past the Kootenay Ice 7-5 on Friday night in Western Hockey League action.
Adam Brooks had two goals and four assists for the Pats (27-23-7), who won their fo...
CALGARY - While Johnny Gaudreau gets all the hype for his sublime playmaking ability, teammate TJ Brodie is no slouch himself.
Brodie continued his red-hot play of late with three assists on Friday night to lead the Calgary Flames to a 5-2 vi...
NEWARK, N.J. - Casey Cizikas scored a lucky early goal, Jaroslav Halak had 27 saves and the New York Islanders opened a season-long, seven-game trip with a 1-0 win over the New Jersey Devils on Friday night.
Halak was outstanding and had a li...
P.K. Subban would prefer to let his numbers do the talking.
The Montreal Canadiens defenseman was his usual dominant self Friday, collecting two assists in his club's 3-2 shootout victory over the Philadelphia Flyers.
But after receiving blame from head coach Michel Therrien for the club's 3-2 loss to the Colorado Avalanche 48 hours earlier, the former Norris Trophy winner said his production should pre-empt criticism.
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Two of Brodie's assists came in the second period as Calgary scored t...
At 23 years of age, following a couple of roller-coaster seasons, Skinner's future with the Hurricanes appears hazy.
Since a remarkable rookie campaign in 2010-11 that saw Skinner pile up 31 goals and 63 points, the Hurricanes have been waiting for him to duplicate that production.
Outside of 33 goals in 2013-14, Skinner has failed to show the same offensive firepower.
Year
Goals
Points
Points per Game
2010-11
31
63
0.77
2011-12
20
44
0.69
2012-13
12
24
0.57
2013-14
33
54
0.76
2014-15
18
31
0.4
2015-16
21
34
0.57
However, with 21 goals through 59 games this season, the former Calder Trophy winner has already eclipsed his goal and point totals from one year ago, and is on pace to finish just shy of the 30-goal mark.
The Hurricanes currently find themselves just outside the final wild-card spot in the Eastern Conference, a place very few envisioned them in entering the season.
The team is supposed to be in a rebuild, and heading toward the trade deadline, Skinner may be a good bargaining chip for the Hurricanes as teams look to bolster their clubs with goal-scorers.
Jeff Skinner has 2 so far tonight. He has his 4th career season of 20+ goals- tied for the 3rd most by a 'Cane since franchise moved to CAR
The situation is tricky, however, as Skinner is just 23 and under contract through the 2018-19 season with a cap hit of $6 million.
That cap hit could scare off potential trade partners, while the possibility of seeing Skinner return to his former self must remain in the minds of Carolina's management.
A deal could provide the club with draft picks or prospects, but Skinner could turn out to be exactly the kind of player they're searching for.
General manager Ron Francis isn't likely to make a rash decision, but with the possibility of having either a stud or dud on his hands in the same player, no choice appears to be the easy one.