The Chicago Sun-Times is reporting that
The Doug Collins watch is winding down: Barring any last-minute hiccups, the Bulls are expected to introduce Collins as their next coach at a midweek news conference.
An announcement of Collins' hiring could come as early as Tuesday, a source said, with a formal introduction Wednesday. Sources told the Sun-Times last Thursday that Collins, who coached the Bulls from 1986-89, had agreed to return.
The Sun-Times also states
Speculation is that Paxson will want Collins to give a spot on his coaching staff to one of the candidates the Bulls have interviewed over the past six weeks. Collins could groom that person to succeed him as coach. Utah Jazz assistants Tyrone Corbin and Jeff Hornacek, former Minnesota Timberwolves coach Dwane Casey, and Sacramento Kings assistant Chuck Person interviewed with Paxson. The GM also met with Los Angeles Lakers assistants Kurt Rambis and Brian Shaw and former New York Knicks guard Mark Jackson, currently an analyst for ESPN. Collins, whom Paxson regards as a ''brilliant'' basketball mind, is said to be excited to get back to coaching, particularly with the Bulls, the youngest team in the league. The fact the Bulls own the No. 1 pick in the June 26 draft and will select either former Memphis guard and Simeon star Derrick Rose or former Kansas State forward Michael Beasley also attracted Collins to the job. The Bulls are expected to bring both prospects to the Berto Center for two-day visits the week of June 16.
It appears we not only will see a new coach but his successor.