Weeks after being stripped of his basketball operations authority as Raptors general manager, Bryan Colangelo announced Wednesday that he was stepping down as the team's president of business operations.
“Having had a better chance to reflect on things for the past several weeks, I have concluded that stepping away from my position is the best course of action for the organization and everyone involved,” Colangelo said in a statement.
Colangelo, 48, will transition into a consultant's role with the Raptors and Maple Leaf Sports & Entertainment (MLSE), the organization's parent company. He has worked for the Raptors since 2006.
“I would like to personally thank Larry Tanenbaum, Dale Lastman, MLSE’s ownership and family and the wonderful people of Toronto for the opportunity to serve them over the last seven years," Colangelo continued. "The support, kindness and adulation that has been displayed to me and my family has been overwhelming, and our friendships and experiences will last a lifetime.”Tim Leiweke as president and CEO hired Nuggets executive Masai Ujiri