Multiple league sources have told TFP the Islanders' preference is to move Vanek by tomorrow's roster freeze and save the organization from paying his salary during the Olympic break.
The Los Angeles Kings are among the teams interested in Vanek, and TFP has learned that the two clubs have had in-depth trade negotiations today that could carry into Friday.
The St. Louis Blues, Vancouver Canucks, New Jersey Devils and Pittsburgh Penguins are among the teams also interested in Vanek.
Islanders GM Garth Snow is keeping all of his options open, and is expected to continue trade talks later today and tomorrow.
Vanek is in the Islanders' lineup tonight as they host the Calgary Flames.
The NHL trade deadline is March 5, at 3pm ET.