UPDATE: New Orleans Hornets make a formal offer to Tom Thibodeau!

http://hoopshype.com/rumors.htm

The New Orleans Hornets made a formal offer Tuesday to Boston Celtics assistant coach Tom Thibodeau to fill their coaching vacancy, according to sources with knowledge of the talks. ESPN.com

Hornets general manager Jeff Bower issued a statement late Tuesday denying that the team has made a formal offer to any candidate, saying that "we will issue an official update when we have concluded the process and have reached an agreement." ESPN.com

Adrian Wojnarowski: Thibodeau isn't talking, but friends believe he will work w/ NOLA to cut deal if offer made soon; don't think he will wait for Bulls or NJ. Twitter.com

What sources have indicated is Thibodeau is interested in listening to a pitch from the Bulls, who have requested permission to interview him. Of course, complicating matters is that the Celtics remain in the Eastern Conference finals with Game 5 Wednesday night in Orlando. Chicago Tribune

John Reid: If #Celtics assistant Tom Thibodeau does not accept #Hornets offer, they will make a push to hire #Trail Blazers assistant Monty Williams. Twitter.com


Sources say Thibodeau is eager to land his first head-coaching job and has strong support from Bower, who is close with Jeff Van Gundy, one of Thibodeau's coaching mentors. But one source close to the situation told ESPN.com that the Hornets -- after New Orleans native Avery Johnson emerged as the early favorite for the job -- are prepared to turn to Portland Trail Blazers assistant coach Monty Williams if Thibodeau declines. ESPN.com

Adrian Wojnarowski: Big part of equation is respect coaches have for GM Jeff Bower. He's considered one of most honest, straight up execs in NBA. A great boss. Twitter.com

Sources say the Bulls, meanwhile, have scheduled an interview this week with Frank while waiting to see whether Thibodeau takes the New Orleans job or consents to meet with them after Boston's series with Orlando. Other Bulls candidates besides Frank and Thibodeau, according to the Chicago Tribune, are Houston Rockets assistant coach Elston Turner and Oklahoma City Thunder assistant coach Maurice Cheeks. ESPN.com