Weird idea, but hear me out:
Maybe PV knows he will also sign some other player(s) in the off-season (*cough* Hvidston *cough*) and would get to the 50 contracts limit. He therefore lets Colangelo sign a PTO with the Gulls to get him accustomed to the franchise and gets some time to shed other contracts - as we know, Colangelo has until some time in August before he enters the market. We get Henrique (due to retention), Silfverberg and some other contracts off the books and will most likely sign our upcoming 1st round pick to an ELC immediately. So maybe, just maybe, PV is trying to make everything work out contract-limit wise before we finally get Colangelo to sign with us.