The Bulls press release after firing Tom Thibodeau focused on the lack of integrity and honesty on the former head coaches part.
Chicago brass forgot to mention the deal with Fred Hoiberg, while they were going all biblical on Thibs.
According to Frank Isola of the New York Daily News, the Bulls had already agreed to a five-year, $25 million deal with Fred Hoiberg before even firing Thibodeau.
According to a source, Iowa State’s Fred Hoiberg already has a deal in place to become the Bulls’ next head coach. The parameters of the deal were discussed while Thibodeau was still employed by the Bulls.
Hoiberg’s deal is believed to be in the $25 million range over five years. Hoiberg, who recently needed a second heart surgery, is merely waiting to be cleared by doctors before officially accepting the job.
Hoiberg has a history with Bulls GM Gar Foreman and his agent, Arn Tellem, is friendly with Bulls owner Jerry Reinsdorf. On Thursday, Foreman managed to keep a straight face when he suggested the Bulls would start a coaching search. Other than that, you should believe everything else he was saying.