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Lee and the Islanders can start to work on a contract extension starting Tuesday, Andrew Gross of Newsday reports.

Lee is in the final season of a four-year $15 million contract. The Islanders would seem to be wise to either sign him to an extension or trade him before the February 25 deadline. The team doesn't want to risk another John Tavares situation where they let a productive player leave the team for no compensation. According to league rules the earliest the team can sign him to an extension would be Tuesday, but that doesn't mean the team and Lee haven't had contract talks. Lee has 14 goals and 27 points in 37 games so far this season and would seem to be in line to make somewhere between $6-$7 million per season in his next deal.

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