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

by June 02, 2015
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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.