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The Atlanta Hawks and Bogdan Bogdanovic have agreed to a four-year, $68 million contract extension, a deal that has been confirmed by CBS Sports' Bill Reiter. Bogdanovic had an $18 million player option for the 2023-24 season, which he is declining, meaning this new contract will kick in at the start of next season. 

In his third season with the Hawks, Bogdanovic is averaging 14.1 points, 3.2 rebounds and nearly three assists while primarily coming off the bench. Bogdanovic provides the Hawks with high-level 3-point shooting, where he's making over 40% of his attempts. 

Despite missing the first month of the regular season due to a knee injury, Bogdanovic has steadily improved over the course of the season, which included shooting over 50% from beyond the arc in February. 

From a financial standpoint, this new deal saves the Hawks a tiny bit of money for next year, and it's a palatable deal in the event that Atlanta wants to trade Bogdanovic down the line. It also is one less thing the Hawks have to worry about in the offseason as Bogdanovic could've turned down his player option and found a deal elsewhere. With him under team control for the next four seasons, it ensures that if Atlanta wants to trade him it will be getting something in return. And if Bogdanovic outplays the contract he just signed, well then the Hawks will have him on a bargain deal.

Atlanta originally signed Bogdanovic back in 2020 after he spent the first three years of his NBA career with the Sacramento Kings