Update: According to a Swiss news outlet, as relayed by Islanders Point Blank, Mark Streit is looking to sign a three-year, $10-million extension with the New York Islanders. The 35-year-old defenseman is in the final year of a five-year, $20.5 million deal.

February 17th: Newsday’s Arthur Staple reports the New York Islanders and Mark Streit‘s reps have been chatting about him signing an extension before he becomes a free agent this summer.

“Streit’s agents at CAA and Islanders general manager Garth Snow have had some preliminary talks on an extension, Newsday has learned. The Islanders still are painfully thin on NHL-ready defensemen, so Streit, who has had some struggles in his own zone, still would be welcome to return on a short-term deal beyond this season.”

“The fact is I like it here. We have a really good team,” said Streit. “I’ve been here five years and I have a really good role, I love the room and I can tell the improvement is here the last few years. It’s maybe 5 percent we’re missing to break through. Overall, I’d like to stay.”

Even if the Islanders plummet down the standings, Lubomir Visnovsky would make the more logical choice to move ahead of the trade deadline. Also in the final year of his current contract, Visnovsky took his sweet time in joining the team this lockout-shortened season. But the veteran blueliner could have great value as a playoff rental for another squad if that situation presents itself.

Subscribe to NHL Trade Report updates on Facebook, on Twitter, by Email, or RSS.