Fred Hoiberg Signs 5-Year, $25 Million Deal to Coach the Bulls

by June 02, 2015

The Fred Hoiberg Era is set to begin in Chicago, with the Bulls expected to introduce their new head coach at a press conference Tuesday.

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.