Transformers 2 Coming Summer 2009?

According to the LA Times via Bay's blog, that Bay has signed a deal to direct Transformers 2 with a summer 2009 release date.

According to the LATimes, Transformers 2 is scheduled for the summer of 2009.

...[Spielberg] and director Michael Bay have signed on to make "Transformers 2," scheduled to hit theaters in the summer of 2009.

If Bay starts things up in early 2008, the deadline is doable. Since the technology and models for the Transformers has been created and mostly mastered, the pre and post-production ramp up will be much quicker then before. However this will (hopefully) be offset by more scenes and more Transformers requiring more CGI.

As the articles notes, its possible that the S and the K of Dreamworks SKG may part company with Paramount. What that means for any deals that Spielberg may have signed is not known but I would assume that any agreements would be with the studio and not the man so things would probably not change as Spielberg (as exec producer) would still get some money from a sequel and that's the important part for all parties.