The Toronto Raptors have given no indication that they would let go of team president of basketball operations Masai Ujiri, but amid the rumors of the New York Knicks aiming to hire him, the baseline to do so would come at a stiff price.

Ujiri is under contract until 2021, but he turned down a contract extension offer from the franchise. To entice the Raptors to let Ujiri out of his contract, the Knicks would have to start by providing at least two first-round picks as compensation, according to SNY's Ian Begley.

The Knicks are no strangers to this move, as they also aimed to get Scott Perry only three months into his tenure with the Sacramento Kings. The Knicks gave the Kings a second-rounder and cash considerations to make him their new general manager, and the Kings replaced him with Brandon Williams.

There is also precedent for this in coaching searches. The Boston Celtics received a 2015 unprotected first-round pick in 2013 when the Los Angeles Clippers looked to replace Vinny Del Negro with Doc Rivers.

Ujiri is one of the most sought-after executives in the league, having done wonders with the Denver Nuggets and earning Executive of the Year honors in 2013 before signing a five-year deal with the Raptors.

The jobs of president Steve Mills and Perry are in jeopardy after the Knicks' subpar start. If they continue to struggle throughout the rest of the season, they could soon face the hot seat after head coach David Fizdale got the axe earlier this month.