The Toronto Raptors have decided to make changes in the front office and will create a new position of general manager while Bryan Colangelo will concentrate on his duties as club president.
Colangelo had held the dual roles, but will instead work with Maple Leaf Sports and Entertainment president and CEO Tim Leiweke on the business side of the franchise while continuing to advise on basketball-related matters.
Leiweke said a new GM is expected to be in place within the next 30 days.
"After thorough evaluation and considering all the options, we have concluded that these changes will be in the best interest of the organization," said Leiweke on Tuesday. "By splitting the roles and having both men report directly to me, we are adding depth to the basketball operations group and giving the Toronto Raptors the best chance of competing for championships in the future."
Colangelo has been with the Raptors since March 1, 2006 and was named the NBA's top executive for the 2006-07 season when the team won the Atlantic Division. Toronto hasn't made the playoffs since the 2007-08 campaign and this season finished 34-48 for its fifth straight losing record.
"The new GM will inherit a great situation in Toronto, as all of my due diligence around the league indicates that we have a fine, young core and a few key moves will make us a playoff contender next season," Leiweke added.
Colangelo had his contract as team president extended. Terms were not disclosed.
"The future of this team and this organization excites me more than ever, and I am looking forward to being part of our future success," said Colangelo. "I will add whatever is necessary to help improve our basketball team while also expanding my efforts to increase brand awareness and influence growth of the game across this great country."
Numerous reports have indicated that the Raptors are interested in Nuggets general manager Masai Ujiri, who was the 2013 NBA Executive of the Year and whose contract with Denver is set to expire this summer.