OAKLAND -- For the second consecutive October, the Warriors embraced the risk to get a player they really wanted at a discounted price.
Golden State announced Friday it had signed center Andrew Bogut to a contract extension, even though he's missed 104 games the last two seasons. The extension locks up Bogut through the 2016-17 season.
Last year, the Warriors inked Stephen Curry to a four-year, $44 million extension despite looming concerns over his oft-injured right ankle.
"Taking a cue from Joe Lacob, when we see something we like, we try to keep it," Warriors general manager Bob Myers said, referring to the Warriors owner. "We don't want it to hit the market. I think that was the same we felt in regards to Steph. This was an asset we didn't want to lose. So if it meant betting on our player, we were willing to do that. ... Maybe it's a philosophy of the organization."
The base of the Bogut deal, according to multiple sources, is three years, $36 million. That kicks in after this season, for which he will make $14 million. But the extension includes incentives that could push the deal up to nearly $42 million.
For a 15 percent bonus to kick in, Bogut needs to play 65 games and achieve one of the following: All-Star, All-NBA, All-NBA Defense, Defensive player of the year.
Bogut said he knew he didn't live up to his contract last season, playing just 32 games in the regular season, so he was willing to take less guaranteed money and earn the pay of a top-five center.
He said he thought his incentives were "attainable" and "fair."
"We came up with a number that was fair for both parties," Bogut said. "Obviously, I gave up a little bit now from what we could've gotten in the offseason. If you can walk in a straight line and chew gum, there is a premium on 7-footers in the league. I knew that. But I've enjoyed my time in the Bay here ... so once we came to some common ground, it was a no-brainer for me."
Bogut's contract also descends in value, starting at about $13 million for next season and ending at about $11 million in the final year. That gives the Warriors a little more salary-cap flexibility, which will matter when it's time for guard Klay Thompson's extension next offseason. And forward Harrison Barnes' the year after that.
"I'm a firm believer," Bogut said, "that NBA teams that are successful have their core groups together for a number of years and they make tweaks along the way. OKC (Oklahoma City) is a prime example of that. ... I think we're going in that same direction. I like what we've got on paper."
At the end of last season, the Warriors told Bogut they wanted to keep him long term. Bogut said the management's willingness to reward him for the sacrifice he made in the playoffs made him feel good about avoiding free agency.
The two agreed to begin negotiations in October provided Bogut was healthy. Both parties wanted to get a deal done before the season began or table it until next offseason. Bogut said the deadline was Friday because he didn't want that in his head while preparing for the season opener.
Bogut said inking the new deal doesn't put added pressure on him. But it does mark the end of a trying chapter of his career. He's fought back from what he called "a dark place," feeling the effects of a broken left ankle for most of two seasons.
The Warriors' signing him to an extension validates him. He said the lure of free agency lost out to faith the Warriors have shown in him and the chance to be part of what Golden State is building.
Certainly, if Bogut had a dominant season this year, his price tag would skyrocket and put the Warriors in a tough spot. But Myers said Golden State wasn't willing to take that risk.
"He's the type of player you want to bet on," Myers said. "You have to take risks in this business. You're never entirely sure how they're going to work out. But for us, he's a character guy, he's a leader on the team, he's about winning, he's a competitor. ... We feel like him as the starting center for our franchise puts us in a good position."
Friday afternoon, Golden State announced it had exercised options on three players: Thompson, Barnes and center Festus Ezeli. By the evening, they were announcing the Bogut deal.
Andrew Bogut's talents have never been in question. Whether the former No. 1 overall pick can remain on the court remains to be seen. The center has played a full 82-game schedule only once in his career (his rookie season in 2005-06). Here's a look at his year-by-year statistics:
Year G PPG RPG
05-06 82 9.4 7.0
06-07 66 12.3 8.8
07-08 78 14.3 9.8
08-09 36 11.7 10.3
Year G PPG RPG
09-10 69 15.9 10.2
10-11 65 12.8 11.1
11-12* 12 11.3 8.3
12-13 32 5.8 7.7