As the Toronto Argonauts head into free agency, they are in a wait and see approach with veteran quarterback Ricky Ray, who has one year left on his deal.

TSN's Matthew Scianitti reports there have been no discussions between the Argos and Ray, and that the new general manager and head coach will determine a lot.

Scianitti adds the one-year left on Ray's deal is heavily incentive-based, as is QB Drew Willy's restructured deal.

The Argos will have money to spend in free agency but won't overspend so that the new GM and head coach have some wiggle room.