Iowa State Cyclones head coach Fred Hoiberg has reportedly been in talks with the Chicago Bulls about filling their head coach vacancy.

The Bulls fired Tom Thibodeau after five years with the team earlier this week, having failed to reach the NBA Finals during his tenure.

According to ESPN, Chicago are negotiating a five-year contract with the retired shooting guard, who spent four years of his playing career with the Bulls.

The 42-year-old has won Big 12 championships with Iowa State for the last two years and was named the college conference's coach of the year in 2012.