Report: Wizards preparing lucrative offer to Masai Ujiri

The Washington Wizards are preparing to offer Toronto Raptors president Masai Ujiri a deal worth approximately $10 million annually with an opportunity to acquire ownership equity, sources told ESPN's Adrian Wojnarowski.

Wizards owner Ted Leonsis will reportedly look to receive permission from Raptors ownership to meet with Ujiri and make an offer.

Ujiri helped turn the Raptors into a perennial playoff contender. He also made the franchise-changing trade to acquire Kawhi Leonard from the San Antonio Spurs, leading to the organization's first-ever NBA championship.

The Wizards have yet to find their replacement for longtime executive Ernie Grunfeld, who was fired shortly after the season concluded in April.

Washington has missed the playoffs seven times over the last 11 seasons, and the team hasn't advanced past the Eastern Conference semifinals since 1979.