Well, if the rumours are true, Chad Kelly will be the starting quarterback for the Toronto Argonauts for the foreseeable future. TSN’s Dave Naylor is reporting that the Argos are extending Kelly on a multi-year deal, and the price tag might be a little too steep for my liking.
The Price Tag
All over X, we’re hearing that Kelly’s new contract could reach seven figures annually, something we haven’t seen in a very long time in the CFL.
Looking at what other quarterbacks around the CFL are making, Kelly’s reported price tag becomes even more interesting. In 2026, Kelly was already making $625,000, compared to Zach Collaros at $550,000, Vernon Adams Jr. at $500,000 and Bo Levi Mitchell at a maximum of just over $515,000. Hamilton recently extended Mitchell through 2028, with his reported compensation potentially reaching $600,000 in 2027 and $700,000 in 2028.
Now, if Kelly ends up getting $1 million annually, Toronto could be paying its quarterback around $400,000 more than Hamilton next season. That’s a pretty big difference, especially when you consider what that extra money could do for the rest of the roster.
I’m not saying Kelly isn’t worth being one of the highest-paid quarterbacks in the league, but is he really worth that much more than everyone else? And with the salary cap expected to increase, will Toronto have enough money left to address the other holes on its roster? Really depends how much the cap goes up, and if it does not. This could be a real issue moving forward.
Kelly has really struggled to stay healthy over the last few seasons. This is a real concern when you paying him what its roumed to be. Can you afford to keep a guy like Nick Arbuckle to pick things up when Kelly is hurt when you are paying Chad this much
See the injury history below
Chad Kelly’s Injury History
- 2024 – Broken leg: Fractured his right tibia and fibula in the East Final. Required surgery and missed the Grey Cup.
- 2025 – Missed entire season: Recovering from his broken leg.
- September 2026 – Toe injury: Appeared on the injury report but continued playing.
- October 2026 – Hand injury: Missed the game against BC.
- October 2026 – Knee injury: Left the Ottawa game in the first quarter and missed the final regular-season game against Montreal.
The number of interceptions he’s thrown this season is also a concern. We know Kelly is a gunslinger, but it feels like every game he’s throwing one, if not two picks. He even had two games where he threw four interceptions this year. Mind you, Toronto somehow managed to win both of those games, but still!
You also can’t forget about his past off-field troubles. Now, that was a few years ago, and there haven’t been any similar publicly reported incidents since. However, when you add everything together, you have to wonder whether Toronto is making the right decision.
Is Chad Kelly Really Worth That Price Tag?
This is where things get interesting. Kelly has won a Grey Cup coming off the bench, and this season he threw for over 5,000 yards and 30 touchdowns. The Argos also had four receivers finish with over 1,000 receiving yards, something the club had never accomplished before.
When Kelly is playing, you feel like Toronto is never really out of a game because he can legitimately drive the length of the field in two plays. He’s a gunslinger with some amazing playmaking ability, and when he’s on his game, he’s one of the most exciting quarterbacks in the CFL to watch. This can defefenltiy help get more butts in seats. Something the Argos have really struggled with over the last 20 years.
But there is also some bad that comes with all that excitement.
That Eastern Final against Montreal a few years ago was one of the worst playoff performances I’ve ever watched. The number of interceptions Kelly has thrown is a real concern, and if Toronto is going to pay him this much money, you have to wonder how much they’ll have left to improve other areas of the team, especially the running game.
Then you have Nick Arbuckle, who I’m guessing could cost about a third of what Kelly is reportedly getting. Arbuckle put up some very good numbers last year, and in his last two games, he threw for over 600 yards and four touchdowns.
Now, both of those games were losses, but football is a team sport, not a me sport. You can’t put everything on the quarterback, especially when he’s doing enough to give his team a chance to win.
So, with all that being said, is Chad Kelly really worth a million bucks a year if that’s what he ends up getting? And more importantly, should Toronto have been the team willing to pay him that much?
Final Thoughts
Honestly, I’m surprised Toronto is getting this deal done before the playoffs. I would have liked to see two things before committing this kind of money to Kelly. First, is he even going to be healthy enough to play? And second, if he does play, is he going to show up and perform, or completely crap the bed?
If Kelly can find a way to stay healthy, cut down on the interceptions and play at the level we know he’s capable of, this could turn out to be a great contract for Toronto, especially if the salary cap continues to increase.
But if Kelly can’t find that consistency, or the salary cap doesn’t increase as much as expected, the Argonauts could find themselves in a tough spot with a lot of money tied up in one player.
And if both of those things go wrong, Argos fans might be in for a pretty tough few years.
