Report: Bucks offer Bogut $60M for 5 years

MILWAUKEE, July 9 (UPI) -- The Milwaukee Bucks and Andrew Bogut were reported Wednesday to have agreed on a five-year $60 million contract for the 7-foot center from Australia.

Bogut's agent, David Bauman, said the deal will be official later this week, the Milwaukee Journal Sentinel said.

The contract would take effect in the 2009-10 season because Bogut still has a year to go on his original agreement with the team.

Bogut averaged 14.3 points and 9.8 rebounds a game for the Bucks in 78 games during the 2007-08 season, his third in the NBA.

The 23-year-old Bogut was the No. 1 pick in the 2005 NBA draft out of Utah.

He will be playing for the Australian national team in the Summer Olympics in Beijing.