Peterson: Iowa State's Hoiberg expected to take Bulls job on Tuesday

Clear Tuesday on your calendar if you're interested in the inevitable conclusion of this Fred Hoiberg-NBA saga. That's when multiple sources told The Register they expect the Chicago Bulls to name Hoiberg as their next coach.

Three people with knowledge of the situation have said the hiring should come Tuesday, but they added it may linger until Wednesday. Also, the Chicago Tribune and Chicago Sun-Times have reported Hoiberg, the Iowa State men's basketball coach, could be announced before Thursday's start of the NBA Finals.

CHAT REPLAY: Randy Peterson weighs in on Hoiberg situation

Citing a "source," the New York Daily News added another layer to this ongoing story, reporting Saturday that the Bulls and Hoiberg had discussed a deal even before Tom Thibodeau's firing last Thursday.

The Daily News' Frank Isola wrote that Hoiberg's deal is believed to be worth a total of $25 million over five years. The report also says that Hoiberg still needs medical clearance before accepting the Bulls job.

Hoiberg underwent a second open heart surgery on April 17.

News organizations have suggested for days that this upcoming work week is when an announcement will come. No one expects it to be on Monday, however, out of respect to the three Hoiberg kids' final day of school. The oldest graduated from high school last weekend.

Hoiberg has not returned recent phone messages to reporters. Iowa State players were advised last week not to talk to reporters.

If Tuesday is the day for either a press conference or just an announcement, and the sources say it also could be Wednesday at the latest, then that means the first time Hoiberg could address his entire team is late this week. The players, most of whom left campus after the spring semester ended, are expected back by Friday.

Hoiberg might even have a farewell press conference with local reporters.

Anyone who knows Hoiberg knows that he'd like to publicly thank a lot of people. Primary on that list would be ISU athletics director Jamie Pollard, for giving him an opportunity to return to his alma mater to coach a program that he's led to the past four NCAA Tournaments. Hoiberg is also passionate about fans who cheered him as a Cyclone star player and then for the past five seasons as a highly successful coach.

But until Tuesday -- or possibly Wednesday -- Hoiberg Watch remains in limbo, even if the ending to all of this is becoming the worst-kept secret in college basketball and the NBA.

What we know heading into what appears to be The Mayor's final hours in office in Ames is that the Orlando Sentinel reported Friday that Hoiberg spoke with the Orlando Magic before that organization hired Scott Skiles to be the coach. We know the Bulls created a coaching vacancy last week after firing Tom Thibodeau. Many outlets have reported that not only does Hoiberg top Chicago's list ... he IS the list.

And it all could be over by Tuesday, barring anything unforeseen.