Hoiberg update: Reports say Hoiberg is negotiating contract with Bulls


ISU coach Fred Hoiberg reacts to a call from a referee during the game against Texas in the Big 12 Championship quarterfinal game on March 12 at the Sprint Center in Kansas City, Mo. After trailing the entire game, the Cyclones came back to win 69-67.

Luke Manderfeld

Fred Hoiberg and the Chicago Bulls are negotiating a contract deal somewhere in the range of five years for $25 million, and barring an unforeseen snag, the deal could be complete this week, according to a report from the New York Daily News.

The news comes after a report by Randy Peterson of the Des Moines Register said Tuesday could be the day the Bulls announce Hoiberg as their new head coach.

Monday is not expected to be the day of the announcement, however, in respect for Hoiberg’s kids, who will be attending their last day of school before summer. 

The ISU men’s basketball program has been in limbo in the middle of the Hoiberg-to-the-NBA rumors, but reports point to a decision being made this week.