Would Busch consider purchasing SFMW?

That might be the case, but since SFWoA is no longer, SF has only Marine World to place their marine life animals.

You would think they would want to own the property outright to avoid any potential problems with the city in the future.

If both sides are pleased with the current situation, why does Vallejo extend the buying option? Why not just have it set in stone as rental property for the city on a permanent basis?

Because if they extend the buying option, when everything is said and done and SFI is in a position financially where they want and can buy the park, the city could decide to sell it to them, but as of now, the situation is good on both ends.

I'd say that SFI would buy this park out right right now if they weren't trying to get back on their feet financially, and the City knows this, so they extend the option so as not to worry about finding another company to run it were Six Flags to pull out with all that entails.

I think it's a good idea for the time being. I need to get to that park eventually.