MLSE has been in negotiations with Bryan Colangelo for him to return to the Toronto Raptors in a "significant" capacity, according to sources.

But the Raptors also remain in full pursuit of Masai Ujiri to assume full control of basketball operations.

MLSE faces a Monday deadline to make a decision on their option on Colangelo's contract for next season.

Sources tell Doug Smith of the Toronto Star that Colangelo will remain with the Raptors in a "corporate", non-basketball role.