Breaking: Bryan Colangelo’s Contract Has Been Extended for Two Years

Colangelo resigned to a two year deal + team option for a third

The first domino has dropped, with Bryan Colangelo getting re-upped by MLSE. It is a two-year deal with a team option for the third. Not sure of the financials at this time, but I would venture a guess of something in the $4-5mil per year range, which is what he did on the last one.

The good news is that Colangelo is on a shorter leash with this deal, and it looks like Silvestri flexed some of his clout in getting these terms.

A few thoughts:

  • Even though he’s had his ups and downs, I think this is the right move. Continuity is something this team hasn’t had in abundance over the years, and with the shorter leash, you can expect some very inspired moves; I hope anyways…
  • The second domino to drop will be all the questions about Triano’s status with the team evaporating. Bringing in a ringer of a coach with this lot makes little sense while Triano is still under contract.
  • If the balls bounce the way they should in the lottery tonight, I can smell a trade of some sort: either trade down to get a small forward, or move the pick in a larger deal for players.
  • I’m very interested in this “winning plan” that Peddie mentions.

Quote from Peddie:

I pleased to inform you that Bryan will be staying on as Raptor President. Bryan and the board worked closely to help create a “winning plan” for the Raptors and today the board gave Bryan their 100% support to continue the rebuilding job he stated this year. I can tell you that it was a very healthy process, that definitely has everyone understanding what it will take to create a winning basketball team and everyone’s total commitment to making it happen.

Do you think it was the right move to extend him?

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