05/31/2013 07:02 EDT | Updated 07/31/2013 05:12 EDT

Raptors ink Masai Ujiri to 5-year deal as GM: reports

The Toronto Raptors have dipped into their past to find their next general manager, according to multiple reports.

Toronto on Friday agreed to terms with reigning NBA executive of the year Masai Ujiri on a reported five-year deal, which could be worth up to $15-million US, reports say, to guide the struggling franchise going forward.

The club has yet to confirm or deny the reports.

Ujiri, who has been GM of the Denver Nuggets since 2010, will replace the beleaguered Bryan Colangelo, who was relieved of his GM duties last week and given a contract extension as team president. Ujiri was Toronto's assistant GM from 2007-10 before joining the Nuggets.

He was reportedly offered the job last Friday after Toronto was given permission to speak to Ujiri last week.

It's another major move since Tim Leiweke was hired last month to run the team. Leiweke was in charge of Anschutz Entertainment Group, which owns the NBA's Los Angeles Lakers, the NHL's Los Angeles Kings and the Los Angeles Galaxy of MLS.

Ujiri will have his work cut out for him. The Raptors have failed to make the playoffs since 2008 — a franchise-worst fifth straight year — and have struggled with consistency.