Bucks, Eric Bledsoe agree to four-year, $70 million contract extension, report says

Eric Bledsoe has cashed in with a major contract extension.

According to Adrian Wojnarowski of ESPN, the Milwaukee Bucks and the veteran point guard have agreed to a four-year, $70 million contract extension.

Bledsoe was due to become a free agent at the end of this season and was finishing out the original five-year, $70 million deal he had signed with the Phoenix Suns prior to the start of the 2014-15 season.

The 29-year-old starting point guard has averaged 15.7 points, 5.5 assists and 4.6 rebounds per game on 49.2 percent from the field this season. The field goal percentage represents a career-high and is a far improvement from his 45.5 percent shooting from the field for his career.

The Bucks are building a powerhouse nucleus centered around 24-year-old Giannis Antetokounmpo. Milwaukee currently holds the best record in the NBA at 47-14 and have a legit chance at clinching the franchise's first NBA Finals appearance since 1974. The Bucks have not won a playoff series since the 2000-01 season.

Signing Bledsoe to a long-term contract extension through the 2022-23 season ensures that the Bucks will have a stable point guard to pair with Antetokounmpo. However, signing the "Greek Freak" to a long-term contract will be the next objective for the front office as he's due to hit free agency in the summer of 2021. Furthermore, key complimentary players Khris Middleton and Malcolm Brogdon are also due to become free agents in the upcoming offseason.

If Milwaukee lives up to the hype and advances deep into the postseason for the first time in nearly 20 years, the Bucks front office will have no choice but to prioritize re-signing their current players.

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