Bulls reportedly will not fire Fred Hoiberg for financial reasons
The Chicago Bulls had best get used to Fred Hoiberg, because finances dictate that he’ll be around for a while.
According to the Vertical’s Adrian Wojnarowski, Hoiberg’s job is not in any danger despite a poor season and rumors of an unsettled locker room. The reason is mostly financial.
“Hoiberg is management’s guy now, and they are on the line for his success,” Wojnarowski said. “Management can’t fire Tom Thibodeau with $9 million left on his deal, then fire Hoiberg, with an additional $20 million remaining over four years on his contract.
“Paxton and Forman have to reshape the roster and support Hoiberg, which is new for them. Usually Bulls management is used to blaming and undermining its coaches. But now they have to understand that their own job security is likely tied to Hoiberg’s success or failure.”
The Bulls essentially ran Thibodeau out of town last summer, targeting Hoiberg as his replacement before Thibs was even given the axe hoping that the grass would be greener on the other side. That has not proven to be the case, as the team is floundering around the .500 mark and in serious danger of missing the playoffs completely. Chicago’s front office made a significant long-term investment in Hoiberg and simply cannot afford to cut bait this soon.
Some Bulls players have reportedly lost faith in Hoiberg, and Jimmy Butler criticized him directly in December. It seems that they’ll simply have to get used to him.
