Report: Raptors hire Ujiri as new general manager

The Toronto Raptors have reportedly signed Denver Nuggets general manager Masai Ujiri to a five-year contract to run the team's basketball operations.

According to multiple sources, including USA Today and Yahoo! Sports, the deal is worth $15 million.

Ujiri, 42, was recently named NBA Executive of the Year after he helped Denver win 57 games and finish third in the Western Conference. The Nuggets' season came to an end, though, with a loss to the Golden State Warriors in the first round of the playoffs.

Ujiri was hired as general manager in 2010 and was responsible for rebuilding the Nuggets after trading away Carmelo Anthony to the New York Knicks, including receiving Andre Iguodala in the four-team trade that sent Dwight Howard to the Los Angeles Lakers.

For Ujiri, it will be a homecoming of sorts, as he was the Raptors' assistant general manager from 2008-10. He will also be working with his old boss, Bryan Colangelo, who was stripped of his GM duties on May 21, but will still act as team president.

The Raptors finished 34-48 this past season, their fifth straight losing record, and have not made the playoffs since the 2007-08 campaign.