Mark Streit's days as a New York Islander appear to be over.
The veteran defenseman, set to become an unrestricted free agent on July 5, will not return to the team next season, sources told Newsday.
A source told ESPNNewYork.com that Streit is "likely" to be headed to free agency.
The two sides reportedly can't find common ground in contract negotiations. According to Newsday, the Islanders offered the 35-year-old Streit a three-year deal worth about $5 million per season, but he's looking for a three-year deal worth more than $5.5M per season.
A source told ESPNNewYork.com that the Islanders have not made an offer to Streit since the trade deadline.
Streit, who has served as the team's captain since 2011-12, just wrapped up the final year of a five-year, $20.5 million pact he signed in 2008.
According to Newsday, it's probable that John Tavares will inherit the captaincy from Streit, who had 27 points during the regular season and six more during the playoffs.