BLOG UPDATE (1:17 a.m.): Correction from earlier: Mike Petrie will be the assistant vice president of basketball operations. And to clear up the rest of the reshifting, Wayne Cooper is expected to have 'general manager' added to his title of vice president of basketball operations. Jason Levien is the team's assistant general manager/general counsel.
BLOG UPDATE: (11:24 p.m.): I've been told that Geoff Petrie isn't the only one in his family who had a banner day, as Mike Petrie has been promoted from regional scout to vice president of basketball operations.
It remains unclear how the other front-office titles shook out. Wayne Cooper is currently the vice president of basketball operations, though I wouldn't be surprised if he was made the team's general manager.
BLOG UPDATE (8:36 P.M.): According to sources with knowledge of the situation, the three-year deal peaks at approximately $1.5 million in the final year. No surprise that there was a significant pay cut involved, as that's the way the league has been going (Petrie is making $4.6 million this season).
According to sources close to the Kings, basketball president Geoff Petrie signed a three-year extension today.
While it had been clear for some time that Petrie and co-owners Joe and Gavin Maloof were determined to get a deal done, the length of the contract appears to have grown in the final stages of negotiations. A two-year deal had initially been discussed. - Sam Amick