OAKLAND, California (Ticker) -- Oakland Athletics general manager Billy Beane, who got the maximum performance from a minimum payroll this season, was rewarded today with a three-year contract extension through the 2005 season.

The Athletics were a surprising wild card contender in the American League before finally running out of gas in the final week of the season. Predicted by many to finish last, Oakland went 87-75, its best record since 1992, when it won the AL West with a 96-66 mark.

It is the second extension in as many seasons for Beane, who had his pact renegotiated through 2002 after last season. Working with a $23 million payroll, Beane also made many shrewd deals leading to the trading deadline, acquiring veteran infielder Randy Velarde and pitchers Omar Olivares and Kevin Appier to help their playoff push.

"The Oakland A's organization and fans are lucky to have one of the brightest minds in baseball calling the shots," A's owner Steve Schott said. "Consecutive organization of the year awards, three consecutive minor league players of the year and a major league squad that was in the playoff race until the last week are testimony to Billy Beane and his staff."

Olivares and Appier each won seven times after joining the A's. Jason Isringhausen, acquired from the New York Mets for closer Billy Taylor, filled that role and had eight saves in as many opportunities.

Beane, 37, joined the A's staff in 1990 as an advance scout and was named assistant general manager in 1993. As an apprentice to Sandy Alderson for four years, he was named GM before the 1998 season, when Alderson took a job with Major League Baseball.

"I am thankful for the confidence that ownership has shown me," Beane said. "Our organization has made tremendous progress over the past two seasons and I'm proud to be part of this future."

Beane is credited with the minor league free agent signing of Matt Stairs as well as overseeing the amateur drafts that have produced Ben Grieve, Eric Chavez, Tim Hudson, Mark Mulder, Barry Zito and highly touted minor league prospect Adam Piatt.