VANCOUVER — The B.C. Lions have reached a settlement with marquee quarterback Mike Reilly.
The club announced the news in a statement Thursday, saying Reilly has signed a new deal that will keep him in B.C. through the 2022 season.
News emerged last month that the 35-year-old native of Kennewick, Wash., had filed a grievance against the Lions, allegedly over the nonpayment of guaranteed funds.
TSN's Farhan Lalji has the details on the new deal which will see Reilly make $525,000 in 2021, including a signing bonus of over $350,000 to be paid in the new year. He will make $575,000 in 2022 and will also receive the full $250,000 from the cancelled 2020 season that was guaranteed and was being grieved.
Lalji notes that Reilly was due over $700,000 in each of the next two seasons in the original deal, but will actually make more when you factor in the grievance and the net tax effect of his large signing bonus.
The 2015 Grey Cup MVP signed a four-year, $2.9-million deal with B.C. as a free agent in February 2019 following six seasons with the Edmonton Eskimos.
In a statement Thursday, Reilly said he is "beyond excited" to continue preparing for the 2021 season and "have all that business stuff behind us."
In 2019, Reilly threw for 3,897 yards with 20 touchdowns and 15 interceptions in 16 regular-season games as B.C. (5-13) finished last in the West Division standings.
“Entering this offseason, I haven’t been this healthy since before I became a starter. So that part is great," Reilly said in a statement Thursday. "I think I speak for everybody with the Lions -- players, coaches and fans -- when I say I can’t wait to get back out there and compete for the Grey Cup.”
This report by The Canadian Press was first published Dec. 17, 2020.