Richard Peddie, president and chief executive officer of Maple Leaf Sports & Entertainment, announced Wednesday that the Toronto Maple Leafs have picked up the one-year option for 2007-08 on the contract of General Manager John Ferguson. ?We are excited about the direction the Leafs have taken, on and off the ice, under the leadership of John Ferguson,? Peddie said. ?When we signed John as general manager three years ago it was my hope and expectation that we?d be making this announcement today. ?Prior to the lockout John created a strategic plan that would address a number of needs that our franchise had?principally procuring and developing young talent, and operating a team under the parameters of a new collective bargaining agreement. We?ve begun to see the results of John?s plan, and picking up the option on the fourth year of his contract enables that progress to continue.?