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Sources: Bulls Sign Hoiberg To Five-Year Deal Worth Almost $25M

Sources said that Fred Hoiberg has signed a "five-year contract worth nearly" $25M to coach the Bulls. The team has a press conference set for this afternoon to introduce Hoiberg. The contract is "comparable to deals" that Warriors coach Steve Kerr and Knicks coach Derek Fisher signed in '14 (SPORTS.YAHOO.com, 6/1). Hoiberg is a first-time NBA coach, but the Bulls are "hoping to replicate the success of Golden State" (Chicago DAILY HERALD, 6/2).

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