"At the beginning of the year, it was something my family and I wanted," Bailey said. "To get it done here now, it's an exciting time for us and a relief at the same time. It's nice to kind of have it done with. We're obviously happy and excited that we get to stay in New York.
"I thought right from the beginning that I wanted to give it every opportunity to stay. It was something that going into the year was kind of my focus. I said that from the beginning and meant it."
Bailey has 62 points (15 goals, 47 assists) in 58 games this season; he's third on the Islanders in scoring, three points behind Mathew Barzal and two behind John Tavares. Bailey has set an NHL career high in points and assists and is one goal from his career high, set in 2009-10. He played in the NHL All-Star Game for the first time this season.
"I've been given a big role in the past couple of seasons and really enjoy it," Bailey said. "It's been a lot of fun, I get to play with great players and get put out in a lot of good opportunities and they really put me in a good position to succeed."
Tavares, who centers a line with Bailey and Anders Lee and is in the final season of his contract, said he is glad Bailey is staying.
"He's been here a long time and has developed into an all-star and a great player and a leader in the locker room," New York's captain told the team website. "Guys really look up to him, including myself. So great to see him get rewarded and continue being an Islander for a long time. I know he's excited, and I'm sure his game will only continue to get better."
Selected by New York in the first round (No. 9) of the 2008 NHL Draft, Bailey has 368 points (121 goals, 247 assists) in 697 NHL games. He is the longest-tenured player on the Islanders.
"Josh has become one of the core members of the New York Islanders," general manager Garth Snow said. "He has developed within our system for several years, and it's exciting to see him mature into the player we always had confidence he would become. To come into the past few seasons and see Josh set new career highs each year, has been impressive and we're excited to see him continue to do that with the organization as we move forward."
New York (29-26-7), which plays the New Jersey Devils at Prudential Center on Saturday (6:15 p.m. ET; MSG+, MSG+2, NHL.TV), is tied with the Columbus Blue Jackets (30-26-5) for the second wild card into the Stanley Cup Playoffs from the Eastern Conference.
