Nope, the title of the thread is misleading. It's $60M in guaranteed money, the remaining are incentives:
http://www.celticsblog.com/index.php?option=com_smf&Itemid=64&topic=21002.msg327657#msg327657
http://blogs.jsonline.com/bucks/archive/2008/07/09/bogut-bucks-agree-on-5-year-extension.aspx
If he becomes a 24/14 player that carries them to the Finals every year, he'll make the bonuses, but in that case, he's not being overpaid as well.
Also, there's no trade kicker and Milwakee is not a very attractive destination to FAs.
Any word on what the incentives are specifically or how achievable they are?
They're usually very easy to achieve on NBA contracts. Agents don't like high bars on those deals, they avoid them.
If they were likely to be achieved, they'd count as guaranteed money. I think it's pretty much the standard 25% of the player's salary in unlikely bonus that teams are allowed to offer without counting against the cap.
Also, the salary is structured flat.
The highest team based incentive I've heard reported in the past has been 50 wins. Generally lower than 50 like 45 wins or a playoff spot.
Not the Finals. Not 60 games. Not 55 games.
They're achievable targets, especially the team based targets.
Considering where Milwaukee are and have been for Bogut's career I find it hard to believe his agent is going to let that team based incentive even get as high as 50 wins, it's most likely lower than that.
Individual incentives could be anything. I've never heard of anything higher than being named to an All-Star spot. Which if Bogut has that, it would be a solid target that's no easy thing to achieve.
Most individual incentives I've heard reported are health related for injury prone players like Marcus Camby .... and the one's that are statistics related are normally low because they don't want the player (1) Thinking about his financials when asked to give up some touches for the good of his team team (2) Gunning for his numbers. Statistics related incentives are normally achievable.
Just think that Larry Hughes has achieved a good chunk of incentives over the past couple seasons since signing that deal with Cleveland. They're normally easy to achieve, agents don't allow the bar to be set too high.
Hopefully all the information will come out over the next few days. I'm really interested to see what it shakes out too. I've been looking over that Bucks paper and BrewHoop.com but there doesn't seem to be any more details out there.