Terms were not immediately disclosed, but if Bogut - who turns 29 next month - performs as one of the NBA's top-seven centers, he's likely to reach the bonus incentives based on health and defense that could push the deal to around $39 million.
NBA insider Sam Amick tweeted:
Bogut's incentives based on health & defense, I'm told. He needs to play in at least 65 games each season, & be honored for work on that end."
Known as injury-prone during his tenure in Milwaukee, Bogut was traded to the Warriors in March 2012 and has since become a key piece to Golden State's championship hopes.
Bogut has averaged 12.2 points and 9.2 rebounds during a career that began in 2005 when the Bucks drafted him first overall out of Utah.
He spoke to the media about why he chose not to test free agency:
I enjoyed my time in the Bay here last 18 months I've been here. Once we came to some common ground it was a no-brainer for me."
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