Report: Fred Hoiberg already has five-year deal with Bulls

The Chicago Bulls finally got rid of Tom Thibodeau as their head coach last week, and it sounds like they already have his replacement. Actually, it sounds like they’ve had his replacement lined up for much longer.

The New York Daily News’ Frank Isola reports that the Bulls had already discussed the parameters of a contract with Fred Hoiberg prior to officially firing Thibodeau. Hoiberg’s deal is believed to be in the five-year, $25 million range.

Hoiberg, 42, played with the Bulls from 1999-2003 and has a relationship with team GM Gar Forman. He went into coaching after his career and has been the head man for his alma mater Iowa State the past five seasons, winning Big 12 titles the past two years.

The only thing stopping the Bulls from making the announcement is they’re waiting for Hoiberg to recover from a second heart surgery he recently underwent.

Nothing about this report should surprise you; we have been hearing Hoiberg’s name as an eventual replacement for Thibodeau for a few years. As you could tell from their press release on the matter, the Bulls really wanted Thibodeau gone.

Photo: Fred Hoiberg on Twitter