TORONTO — The Toronto Raptors acquired a future second-round draft pick from the Orlando Magic on Thursday in exchange for the contractual release of Jeff Weltman.

The Magic named Weltman as president of basketball operations last Tuesday.

Weltman's tenure as general manager of the Raptors was a short one, with the 2016-17 season serving as his debut and lone campaign. Upon joining the club in 2013, he served as its executive vice-president of basketball operations. Weltman was named the general manager after Masai Ujiri was promoted to team president ahead of last season. Weltman has also held executive positions with the Milwaukee Bucks, Los Angeles Clippers and Denver Nuggets.

Toronto finished with a record of 51-31 under Weltman, reaching the second round of the playoffs where they were defeated by the Cleveland Cavaliers in four games.

The Magic finished 29-53 in 2016-17 and failed to qualify for the post-season for the fifth consecutive season.