Hoiberg has agreed to a reported 5-year, $25 million contract to leave his post at Iowa State.
The former NBAer has big shoes to fill, replacing Tom Thibodeau, the coach with the second-highest winning record in franchise history.
Per Yahoo! Sports:
Hoiberg’s contract is comparable to deals that Golden State’s Steve Kerr and New York Knicks’ Derek Fisher signed a year ago.
Hoiberg had been making $2.6 million a year at Iowa State.
Bulls management considered the partnership that Celtics general manager Danny Ainge and Brad Stevens had developed as a model for the Hoiberg hiring, league sources said. Stevens made the leap to the NBA from Butler University three years ago. […] The Oklahoma City Thunder hired Florida coach Billy Donovan, agreeing to what sources say is a five-year, $30 million contract. Donovan won two national titles at Florida.