The “Toronto Sun” reported Tuesday that the Toronto Raptors have reached an agreement in principle with Bryan Colangelo on a new multi-year pact to remain the President and General Manager of the team. Colangelo was given the contract extension despite the fact that the Raptors ended the regular season with the third worst record in the Association at 22-60. The Raptors have not made the Post Season in the last three years and have a record of 183-227 during his tenure.
Colangelo’s contract was to expire on June 30, but apparently the Raptors wanted to get a new deal done before the NBA Draft which will be held on June 23. The next decision for Toronto will be whether they decide to retain head coach Jay Triano whose contract expires on July 15. Reports are that Colangelo supports bringing him back as the team’s bench boss.
The Raptors President was named the NBA Executive Of The Year for the 2007 campaign but the team has fallen on hard times since then. Colangelo signed Hedo Turkoglu and Jason Kapono as Free Agents and neither player lived up to his expectations. Turkoglu would last just one season in Toronto before being traded last summer to the Phoenix Suns. The team also lost a key component last summer as forward Chris Bosh signed a Free Agent deal with the Miami Heat.