Bulls fire head coach Tom Thibodeau

Months of speculation came to an end Thursday, as the Chicago Bulls announced they have fired head coach Tom Thibodeau.

Team chairman Jerry Reinsdorf's statement all but confirmed the long-rumored disconnect between Thibodeau and Bulls management.

"While the head of each department of the organization must be free to make final decisions regarding his department, there must be free and open interdepartmental discussion and consideration of everyone's ideas and opinions," Reinsdorf said.

These internal discussions must not be considered an invasion of turf, and must remain private. Teams that consistently perform at the highest levels are able to come together and be unified across the organization-staff, players, coaches, management and ownership. When everyone is on the same page, trust develops and teams can grow and succeed together. Unfortunately, there has been a departure from this culture. To ensure that the Chicago Bulls can continue to grow and succeed, we have decided that a change in the head coaching position is required. Days like today are difficult, but necessary for us to achieve our goals and fulfill our commitments to our fans. I appreciate the contributions that Tom Thibodeau made to the Bulls organization. I have always respected his love of the game and wish him well in the future.

Thibodeau had two years and $9 million remaining on his contract, although, according to multiple reports, an offset clause will allow the Bulls to offset the amount he gets from Chicago if he's hired by another team before the contract expires.

Iowa State's Fred Hoiberg has long been considered the favorite to replace Thibodeau in Chicago.

Reports suggesting the coach's clash with general manager Gar Forman and vice president John Paxson over a number of issues existed even before this season, when rumors of Thibodeau's eventual departure at the end of the season kicked into high gear.

"When Tom was hired in 2010, he was right for our team and system at that time, and over the last five years we have had some success with Tom as our head coach," Forman said in a statement. "But as we looked ahead and evaluated how we as a team and an organization could continue to grow and improve, we believed a change in approach was needed."

According to the Chicago Tribune's K.C. Johnson, Bulls management questioned Thibodeau's offensive strategy, roster management, and minutes distribution, with Thibs reportedly unhappy with the minutes restrictions placed on Derrick Rose, Joakim Noah, and Kirk Hinrich this season.

That minutes management has long been the biggest knock against the defensive specialist, as two-way wings like Jimmy Butler and Luol Deng have led the league in minutes per game under Thibodeau's watch.

Johnson also reported that some Bulls players didn't endorse Thibodeau's return in season-ending meetings with management, with additional reports suggesting at least three starters ripped the coach in exit interviews.

While Thibodeau's relationship with his higher ups was obviously fractured beyond repair, many Bulls fans remained loyal to the defensive specialist.

Thibodeau released a statement concerning his firing on Thursday evening:

I want to thank, and will deeply miss, our incredible fans and the entire city of Chicago. I also want to thank my staff and all of the talented players and their wonderful families who have honored me and the Bulls by their effort, love, dedication and professionalism, I appreciate the opportunity that Jerry Reinsdorff gave me. We are proud of our accomplishments, fought through adversity, tried to give our fans the full commitment to excellence they deserve. I love this game and am excited about what's ahead for me with USA Basketball and the next coaching opportunity in the NBA.

After assistant jobs in Boston, Houston, New York, Philadelphia, San Antonio, and Minnesota dating back to 1989, the Bulls gave Thibodeau his first head coaching opportunity in 2010.

The Bulls won nearly 65 percent of their games (255-139) and boasted the top-ranked defense over the course of Thibodeau's tenure, making the playoffs in all five seasons, although injuries - specifically to the former MVP Rose - kept the team from replicating its run to the Eastern Conference Final during Thibodeau's first season at the helm.

The 2011 Coach of the Year has been linked to vacancies in Orlando and New Orleans as his longtime clash with Bulls management continued, but Scott Skiles, Alvin Gentry, and Jeff Van Gundy have also been rumored as potential replacements for at least one of the Magic or Pelicans.