Bryan Colangelo has stepped down as president of team and business operations of the Toronto Raptors, a position he accepted this offseason.

Colangelo wasn't retained as general manager and the Raptors subsequently hired Masai Ujri.

Colangelo will remain as a consultant.

"I have concluded that stepping away from my position is the best course of action for the organization and everyone involved,” said Colangelo.

A source told Ken Berger of CBS Sports that Colangelo and MLSE CEO Tim Leiweke had been at odds.