BREAKING: Bulls GM Paxson to resign

According to the Chicago Sun-Times, Chicago Bulls general manager John Paxson will resign, but the timing of said resignation is uncertain.

The Sun-Times cites a Peter Vescey story, which broke the news of Paxson's resignation, and says that former Bulls coach and current NBA on TNT analyst Doug Collins could replace either Paxson or head coach Vinny Del Negro.

If the resignation is immediate, it might be the first domino to fall in the Bulls' line of command. My sources indicated last spring that Paxson was going to resign after the NBA playoffs had Chicago not landed the No. 1 overall pick in the draft lottery.

But I will withhold judgment until an official announcement is made.

More reaction to come as this story develops.

Sources: Pax out in Bulls shakeup [NY Post]
Bulls GM Paxson will resign [Chicago Sun-Times]