Peter Vecsey of the New York Post is reporting that Chicago general manager John Paxson will resign soon after Thursday's trade deadline.

In the shakeup, assistant general manager Gar Foreman is expected to take over for the remainder of the season.

One of the sources who revealed Paxson's fate to Vecsey also indicated that the Bulls could approach Doug Collins at the end of the season about either coaching or moving into the front office.