New York Islanders forward Anders Lee will undergo surgery this week and miss the rest of the season, general manager Lou Lamoriello said Wednesday.

The GM said Lee has a torn ACL, but his rehab will not be as arduous since he does not have other damage in the joint.

The team captain was placed on long-term injured reserve Sunday after sustaining the injury last week. New York can now exceed the salary cap by Lee's $7 million salary minus how much they are currently under the cap. That could prove useful with the April 12 trade deadline approaching.

The Isles now have to find a way to replace Lee's scoring. The former 40-goal scorer is tied with Jean-Gabriel Pageau for the team lead in goals with 12.

The Islanders had their nine-game winning streak snapped Tuesday night after their 3-1 loss to the Capitals. They are tied with Washington for first place in the East with 42 points.