Bogut was injured when a Charlotte player fell into his leg after Mavs swingman Justin Anderson drove to the basket in the final minute of the first quarter. Bogut immediately clutched his right knee and, after getting on his feet moments later, limped straight to the locker room.
Bogut will have an MRI on Tuesday to determine the extent of the injury, but the initial prognosis on Bogut is a hyperextended right knee, according to coach Rick Carlisle.
"We don't think it's terribly serious," Carlisle said. "At this point, it appears we dodged a bullet."
Recoveries from hyperextended knees typically range from two to six weeks.
Bogut, a 12-year veteran whom the Mavs acquired in a trade from the Golden State Warriors that created salary-cap space for Kevin Durant this summer, is averaging 4.1 points, a team-high 10.6 rebounds and 2.3 assists this season.
Bogut's injury adds another medical concern for the Mavs, whose 4-15 record is the worst in the Western Conference. Power forward Dirk Nowitzki (Achilles tendon) is out indefinitely, and guard J.J. Barea (calf) is out for at least another few weeks.
There has been trade speculation about Bogut, who is a proven, championship-caliber complementary piece and in the final season of his contract. However, team sources told ESPN that the Mavs had no immediate intention to shop the big man, focusing instead on trying to salvage their season over the next month.
Yet, the Dallas management realizes that a healthy Bogut would have significant value in the trade market. Several league sources told ESPN before Monday that the Mavs could likely get a first-round pick from a contender if they traded Bogut.