Expected but nonetheless awesome news regarding Geoff Petrie's contract status: the Maloofs picked up their option, and Geoff's getting paid through 2009-10, reports Sam Amick.

Petrie's public rebuilding plan has the big Sacramento splash occurring in the summer of 2010, when the GM would be up for an extension. I imagine the sides might consider working out an extension through 2012 or '13 sometime next season or next summer — barring a complete collapse of the roster, the Maloofs aren't going to let Petrie get to his big day and can him.

(Of course, I still put odds at 50/50 of Petrie making his magic before the summer of 2010.)