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 already discussed the parameters of a contract with Iowa State coach Fred Hoiberg prior to officially firing Thibodeau. Hoiberg’s deal is believed to be in the five-year, $25 million range.

The Des Moines Register's Randy Peterson reports Hoiberg likely will be named the Bulls' new coach on Tuesday.

Hoiberg, 42, played with the Bulls from 1999 to 2003 and has a relationship with Chicago GM Gar Forman. Hoiberg went into coaching after his playing career and has been the head man for his alma mater Iowa State the past five seasons. He led the Cyclones to consecutive Big 12 tournament titles the past two seasons.

The only thing reportedly 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. And as you could tell from their press release on the matter, the Bulls really wanted Thibodeau gone.

More from Larry Brown Sports: