11:02am: GM Jed Hoyer officially announced Black's extension, according to a team press release.
7:27am: The Padres will announce a three-year extension for manager Bud Black today, reports MLB.com's Corey Brock. The deal also includes club options for 2014 and '15.
This is Black's fourth season managing the team, and many labeled it a rebuilding year after the '09 Jake Peavy trade. Instead, the Padres have the best record in the National League and are buyers at the trade deadline.