Atlanta Hawks guard Bogdan Bogdanovic has agreed to a four-year, $68 million contract extension, sources told ESPN on Thursday.

Bogdanovic declined his $18 million player option for the 2023-24 season and replaces it with a new long-term deal, sources said.

Bogdanovic's representatives at Wasserman finalized the deal with Hawks general manager Landry Fields this week, sources said.

At 30, Bogdanovic is averaging 14 points on 40% 3-point shooting this season. Bogdanovic arrived from the Sacramento Kings as a restricted free agent on a four-year, $72 million deal in 2020 and has been a staple in the Hawks' lineup. He has averaged 14.2 points in his six seasons with the Kings and Hawks.