Andrew Bogut will sign a five-year, $72.5 million extension with the Bucks later this week, his agent said Wednesday. Bogut was expected to sign the extension Friday, agent David Bauman said.

The agreement was first reported Wednesday by the Milwaukee Journal Sentinel on its Web site.

Bucks spokesman Dan Smyczek also confirmed Wednesday that there was an agreement on a deal.

"He's thrilled," Bauman told The Associated Press. "He feels like Milwaukee really stepped up and demonstrated to him he's a valued member of this team."