The Milwaukee Journal-Sentinel (Charles F. Gardner) reports: The Bucks are making a serious commitment to center Andrew Bogut, who will sign a five-year extension with salary and bonuses worth up to $72.5 million, according to agent David Bauman. Today is the first day for NBA free agents and players seeking extensions to sign contracts. The extension does not affect the $6.9 million he is owed for the coming season, the final year of his rookie contract. Sources indicated the guaranteed money in the extension is $60 million.

InsideHoops.com editor says: Bogut emerged last season as a quality center, though I think the Bucks are overpaying by around $10 or $20 million. He’s a good player but I haven’t seen him be a real difference-maker yet. Of course, his teammates didn’t help much in that department last season. Everyone that matters on the Bucks, including guards Mo Williams and Michael Redd, were disappointing. So it’s not Bogut’s fault that his stats mostly came by way of losses. Anyway, even if they’re paying a bit more than they should, the Bucks are making the right move. But let’s see if Bogut keeps improving once he signs the contract. Lots of guys, by total coincidence, seem to level off the season after they suddenly become zillionaires.