MINNEAPOLIS (AP) — A person with knowledge of the situation tells The Associated Press that the Timberwolves have agreed to terms with former Chicago Bulls coach Tom Thibodeau to be the team's coach and president of basketball operations.

The two sides reached agreement Wednesday. The person spoke on condition of anonymity because the team has not officially announced the decision.

Thibodeau was the most coveted coach on the market. He won nearly 65 percent of his games in five seasons with the Bulls. But he was fired after last season amid speculation of a rift with GM Gar Forman.

Thibodeau got his start in the NBA for the expansion Timberwolves as an assistant under Bill Musselman in 1989.