The Chicago Bulls are reportedly giving serious consideration to firing coach Tom Thibodeau.

Chicago are edging towards terminating their partnership, even though their coach still has two years remaining on his current deal.

It is reported that a resolution to the situation will likely be found as early as Friday, with the organisation dissatisfied with his performance this season.

The Bulls have not yet been offered any compensation package from interested teams looking to let Thibodeau out of his contract.

However, the New Orleans Pelicans and Orlando Magic have both been linked with an interest and are monitoring the situation.