The NBA's Chicago Bulls say they will have a "major announcement" at 3pm and it is expected to be the announcement of Fred Hoiberg as their new coach.

After firing Tom Thibodeau last week, the Bulls having been working on a deal to bring Hoiberg in from Iowa State.

The 42-year-old Hoiberg spent 10 years in the NBA as a player, four of them with Chicago.

He had taken the Cyclones to the NCAA tournament in four of the last five years.

Hoiberg is expected to get a five year deal with the Bulls.