Sources: Bulls' Jim Boylen in line to make $1.6 million this year, next

The Chicago Bulls are guaranteeing only $1 million in salary for Jim Boylen's contract for next season, giving the franchise financial flexibility should it decide to make a coaching change in the offseason, league sources told ESPN's Adrian Wojnarowski and Malika Andrews on Saturday.

Boylen, who was elevated from associate head coach on Dec. 3 following the firing of Fred Hoiberg, negotiated the deal himself with the organization, sources said.

In the revised deal, Boylen will make $1.6 million next season if the team keeps him as head coach, league sources said. He already was guaranteed the nearly $1 million in his previous contract as associate head coach.

Boylen also will make $1.6 million this year under the terms of the revised agreement.

The agreement is similar to the contract the Cavaliers gave Larry Drew when they elevated him to replace the fired Tyronn Lue earlier this season.

Boylen is the fifth head coach that general manager Gar Forman and vice president of basketball operations Jim Paxson have hired for the Bulls. Chicago is 5-13 since firing Hoiberg on Dec. 3 and has lost its past six games.