The New York Islanders have signed Josh Bailey to a six-year contract extension, the team announced Friday.

The value of the deal was not disclosed, but TSN's Bob McKenzie reports it's worth $30 million over the six-year term.

"Josh has become one of the core members of the New York Islanders," said Islanders president and general manager Garth Snow. "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."

The 28-year-old was drafted ninth overall by the Islanders in 2008 and is in the midst of the most productive season of his career to date, amassing 15 goals and 47 assists for 62 points through 58 games.

Bailey is currently in the final season of a five-year contract that carried a salary cap hit of $3.3 million and was eligible to become an unrestricted free agent on July 1.

A good part of his success of late is due to playing with John Tavares, who can also hit UFA status this summer.