Bryan Colangelo is stepping down as president of the Toronto Raptors, just weeks after taking a reassigned position with the team.
The Raptors announced Wednesday that Colangelo will remain as a consultant with the team and with Maple Leaf Sports & Entertainment.
Colangelo joined the Raptors in February 2006 as president and general manager. He was not extended as GM after Toronto ended its 2012-13 season with a 34-48 record.
The Raptors had reached an agreement with Colangelo to keep him on as president, but the 48-year-old said that on further reflection, stepping down was the best course of action.
Masai Ujiri, who worked under Colangelo as Toronto's assistant GM from 2008-10, took over Colangelo's position in June.