The New York Islanders made John Tavares’ six-year $33 million contract extension official on Thursday at a press conference in Uniondale.

Isles GM Garth Snow on locking up a cornerstone on which the team will build upon for the next seven years, via

“Over the past two years, John has shown a strong commitment to the Islanders organization and the Long Island community through his efforts both on and off the ice. He is a key component to the core of players we’ve decided to build this team around and we couldn’t be happier to ensure that he will be a New York Islander for years to come.”

While the Tavares extension effectively extinguished any pipe dreams hockey fans outside of Nassau had for the former 1st overall pick joining their team, the Isles have another issue at hand that’s quickly approaching a Snow-imposed deadline. Centre Joshua Bailey remains an unsigned restricted free agent, and ESPN New York reports that Snow has set a Friday, 7 AM deadline for the two sides to reach an agreement.

Bailey was optimistic that something can get done, but admitted that it’s taken longer than desired:

“I don’t think either side wanted it to come down to the final day. In a perfect world things get done right [away] but it doesn’t always work that way.”

And what if the deadline passes without a new deal for Bailey? Well, some wonder if the 21-year old will be forced to sit out the season. That seems a bit extreme, conjuring up memories of Eric Lindros’ messy year long divorce from the Flyers in 2001, but who’s to say the two sides can’t reopen negotiations or work out a trade?

I guess we’ll have to wait and see…