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Bryan Colangelo may be ready to jump ship.

According to a report in the Arizona Republic, Phoenix Suns president and general manager Bryan Colangelo appears to be close to becoming the Toronto Raptors' new GM.

The Raptors fired GM Rob Babcock on January 26 after getting off to a 14-29 start.

After meeting with Raptors officials Tuesday in Toronto, three league sources said Colangelo appears ready to accept the position as soon as the "final details" are worked out. That would include salary talks that may more than triple his salary, said to be among the bottom third of NBA general managers at an estimated $1 million.

Colangelo, who has a contract through the 2006-07 season, is the reigning NBA executive of the year.

"He's got a contract. He's a loyal individual," Suns CEO Jerry Colangelo, Bryan's father, told the paper. "He'd like to see things through. I think all of that is still there."

Suns managing partner Robert Sarver, whose group will complete a purchase of the team in June 2007, met with Bryan Colangelo during All-Star weekend in Houston. He asked for a decision from the younger Colangelo by the end of the month.

"At the time we reached agreement on the purchase of the Suns, Bryan Colangelo and I agreed on a three-year contract through the 2006-07 season that includes and ownership in the team," Sarver said in a statement. "I also had an understanding with Bryan that, if another opportunity presented itself that he wished to explore, I would not stand in his way. Consistent with that, when another team asked permission to speak with Bryan, I granted permission at his request.

"I have had discussions with Bryan regarding as extension on his contract and those conversations are ongoing. My hope remains that he will stay in Phoenix."