Sources: Colangelo Closing In On Contract Extension With Raptors

Multiple sources said that Raptors President & GM Bryan Colangelo is "closing in on a new multi-year deal to remain in charge" of the club. Colangelo has declined comment on his contract status "in recent days." But sources said that Colangelo, whose contract expires June 30, "recently cleared a considerable hurdle" to keep the job he has held since '06. The Ontario Teachers' Pension Plan, whose rep Glen Silvestri has been a "chief anti-Colangelo voice," has appeared "unwilling to exert influence" on the future of the team amid ongoing efforts to sell its interest in Maple Leaf Sports & Entertainment (THESTAR.com, 5/17).