Bryan Colangelo Signs Contract Extension With Toronto Raptors, According To Report

Bryan Colangelo has agreed to a multi-year contract extension to continue as general manager of the Toronto Raptors, reports Eric Koreen of the National Post. Such an agreement has been rumored (rumoured?) to be in the works for months, to the astonishment of many. Koreen reports that Colangelo has confirmed that a deal is done.

Colangelo will, fittingly, represent the Raptors at the 2011 NBA Draft Lottery in Secaucus, N.J., on Tuesday. By virtue of having the third worst record in the NBA in the 2010-11 regular season, the Raptors have a 15.6 percent probability of winning the No. 1 pick and a 46.9 percent probability of landing in the top three in June's draft.

Colangelo was hired by the Raptors in 2006, and won the Executive of the Year award in 2007 for his work surrounding Chris Bosh -- who had been drafted by his predecessor Rob Babcock in 2003 -- with a decent supporting cast. The Raptors won a dreadful Atlantic Division that season.

But Toronto fell off in 2008, going .500 and getting smoked by the Orlando Magic in the first of the playoffs. The Raptors haven't been back to the postseason since. Colangelo's biggest, boldest move was taking Andrea Bargnani No. 1 overall in 2006. While that particular draft remains vexing, Bargnani is a seriously limited NBA big man, one of the worst rebounders for his size ever and a huge defensive minus. (He does shoot well, though.)

For more on the Raptors, visit Raptors HQ.

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