Update: Sun-Times confirms Pasxon to resign

The New York Post is reporting that "two people in the know" are saying that Bulls General Manager John Paxson will resign next week after Thursday's trade deadline expires.

Peter Vecsey reports:

"One of the above sources said he wouldn't be surprised if Doug Collins were approached again at the season regarding the coaching job (currently held by Vinny Del Negro) and as GM, or both. Collins and managing partner Jerry Reinsdorf couldn't agree on money last May."

SOURCES: PAX OUT IN BULLS SHAKEUP [New York Post]