As expected the Victorian-born 20-year-old surpassed Australia’s previous highest draft choice Luc Longley, who was Minnesota’s seventh overall pick back in 1991.
As a No.1 pick Bogut will receive a guaranteed three-year contract worth in excess of $14 million and his agent David Bauman believes Bogut will earn more than $100 million over his career before endorsements.
Bogut raised a fist in celebration when NBA Commissioner David Stern read his name out as the No.1 pick at New York’s Madison Square Garden.
“I’m just taking that deep breath,” Bogut said.
“It’s surreal to me still. I think I’ll wake up tomorrow morning and have a better realisation.
“It’s just a dream come true.”