Report: Hoiberg's deal with Bulls in place, was discussed before Thibodeau firing

It's only a matter of time before the Chicago Bulls announce Fred Hoiberg as the team's new head coach. It's only been a matter of time since the Bulls even removed Tom Thibodeau from the position.

Hoiberg's standing as the likely replacement for Thibodeau is the worst kept secret in sports, with multiple reports suggesting the Bulls could announce the hire within the week. The term "gentleman's agreement" has been used, with the idea being an announcement is being delayed while Iowa State searches for a new coach, and Hoiberg gets medical clearance to take the job, and makes arrangements to move his family.

What's more, the parameters of a deal have been discussed since before Thibodeau was fired, according to a report from Frank Isola of New York Daily News. Isola also reports the deal, which is already in place, would pay Hoiberg in the area of $25 million over five years, a substantial raise from the $2.6 million his current deal averages between now and 2023. The two sides are expected to complete the deal on Monday, a source told ESPN's Jeff Goodman.

The Bulls declined to comment on the Hoiberg reports Saturday.

There had been speculation for months the Bulls and Thibodeau would part ways, with the relationship between the coach and management decaying to a point beyond repair. What began as a potential game of chicken, with the Bulls seeking compensation in the form of draft picks and Thibodeau wanting the entirety of the $9 million owed to him, played out more quickly, with Thibodeau receiving his walking papers Thursday.

Thibodeau can now rest in peace, comforted by the entirety of the two years salary owed to him, an amount that would be offset some for Chicago if he signs a new deal elsewhere.

That also freed the Bulls to begin their search for a new coach, a search that apparently started and concluded long before Thibodeau was officially fired.

Hoiberg has long been attached to the Bulls, as he's a former player with the organization and has a strong relationship with general manager Gar Forman. As far back as May 15, nearly two weeks before Thibodeau's removal, Hoiberg was considered the only legitimate candidate for the job.

There was belief Hoiberg was unsure about taking the job for health reasons, with the stress level of the NBA a concern given he's had multiple heart surgeries. Any trepidation on his part may be why the Bulls originally slow-played the Thibodeau situation, using the time they spent convincing Hoiberg to make the jump to the NBA.

The concerns about Hoiberg's desire to coach in the NBA may have been overstated, as Hoiberg also reportedly took a face-to-face interview with the New Orleans Pelicans and the Orlando Magic before they agreed to a deal with Scott Skiles. Cyclones fans were sure enough he'd depart that they launched HasHoibergLeft.com, a page that will seemingly need an update in the coming days, perhaps ahead of the beginning of the NBA Finals on Thursday.