Fred Hoiberg is expected to travel to Chicago on Monday and finalize a deal to become the next head coach of the Bulls.
Since Tom Thibodeau was fired on Thursday despite the team reaching the playoffs in each of his five seasons, the Bulls have zeroed in on Hoiberg, the current head coach at Iowa State.
Multiple media outlets reported over the weekend that Hoiberg and the Bulls were negotiating a five-year contract.
A formal announcement could come as early as Monday night and the Bulls would like to hold a press conference Tuesday, a source told Gary Parrish of CBSSports.com.
ESPN’s Jeff Goodman reported that Hoiberg will meet with the Bulls on Monday and that the sides are expected to complete a deal, barring a last-second collapse in negotiations. Multiple sources said the feeling within the Bulls organization is that the deal is all but complete.
Sources told the Des Moines Register that they expect the Bulls to make the announcement Tuesday, but it may linger until Wednesday.
Hoiberg played four of his 10 NBA seasons with the Bulls and has remained close to Bulls general manager Gar Forman, who was an assistant at Iowa State when Hoiberg was a senior.
The 42-year-old Hoiberg has had two open-heart surgeries, with the first ending his playing career. Hoiberg underwent surgery to replace his aortic valve on April 17.
Since taking the helm of the Cyclones in 2010, Hoiberg has gone 115-56, and Iowa State has made four NCAA Tournament appearances — in 2012, 2013, 2014 and 2015.