"Rick is still a likely candidate to being bought out," one source told TFP.
It's unclear when the Islanders will move this into motion, but teams have until 5pm ET on July 4 to execute any buyouts. It could happen as early as Friday.
If bought out, the Islanders will be responsible for paying DiPietro $24 million over the next 16 seasons ($1.5 million per year).
After clearing waivers during the season, DiPietro was assigned to the Islanders' AHL affiliate in Bridgeport, where he posted a 9-9-0 record with a 2.93 goals-against-average and an .893 save percentage.
DiPietro has been riddled with injuries since the 2008-09 season and have only played in 50 games since that year, including three games this past season.
The former first-overall draft pick in 2000 is believed to have a clean bill of health and should be become an unrestricted free agent July 5, he will attract some interest from teams in need of goaltending depth.