Josh Bailey's time with the New York Islanders is over as he is headed to Chicago.

NASHVILLE -- If the New York Islanders were going to do anything this off-season, moving Josh Bailey and his $5 million salary cap hit was necessary.

On Thursday morning, the Islanders did just that as they sent Bailey and a 2026 second-round selection to the Chicago Blackhawks in exchange for future considerations. 

The Islanders now have $10.3 million in cap space following the move.

The Blackhawks always made sense as they were one of a few teams that needed to get to the cap floor. The Blackhawks are now just $8,000 away after the Bailey deal.

With Patrick Kane out and Jonathan Toews gone, general manager Kyle Davidson needs to address his personnel, as he needs a strong leadership group to help 2023 first-overall pick Connor Bedard settle into the NHL.

However, things changed rather quickly.

Bailey will then become an unrestricted free agent. 

A former ninth overall pick by New York in 2008, Bailey had some incredible postseason moments and did reach the 1,000-game mark this past season.

But after 15 seasons, Bailey had run his course on Long Island. 

Bailey finishes his Islanders career with 1,057 games played, the third-most in franchise history, with 184 goals and 396 assists. His 580 points are seventh all-time.

"It's home, I came here as a teenager and got married. All our kids are born here, and all the roots are here, and this is where we plan on living when hockey is all said and done regardless," Bailey said. "So 15 years has been a pretty good run, and I'm very proud of that."

Now the question becomes, what do the Islanders do with this newfound money? 

Does Scott Mayfield come back? How about Pierre Engvall? Is a Semyon Varlamov extension announcement coming next? 

Stay tuned.