The 6-foot-10 forward from Paterson said he will sign a long-term deal with the Bucks, the newspaper said. He declined to say how much he would earn but acknowledged he will get less money to stay in Milwaukee.
Thomas reportedly had a six-year, $67 million offer from Chicago and also spoke with the Detroit Pistons.
"It would have been easy and it would have been fun," to play in Chicago, Thomas said Sunday. "But at the same time it would have been difficult. Going back to the situation I was in (with Milwaukee) last year will be great."
The Bulls have extra room under the salary cap but have yet to attract a major free agent this summer.
Thomas, a three-year pro out of Villanova, averaged 11.8 points and 4.2 rebounds as the sixth man for the Bucks last season. In the playoffs, he upped those figures to 15.4 points and 4.8 rebounds.
Milwaukee can give Thomas a seven-year contract with annual raises of 12.5 percent, while other teams can only offer a six-year contract with 10 percent raises.
©2000 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed