The Calgary Stampeders and two-time CFL Most Outstanding Player Bo Levi Mitchell have agreed to restructure the 31-year-old quarterback's contract for 2022, the club announced on Friday.

Mitchell is headed into the final season of a four-year deal signed in 2019.

The team also re-signed QB Jake Maier early in the week.

TSN's Farhan Lalji reports Mitchell's restructured contract will pay him $425,000 and include $60,000 in playtime bonuses. Mitchell's deal also includes a $100,000 signing bonus.

Prior to the restructuring, Mitchell would have made $525,000. Should he max out his playing time bonuses under the restructured deal, Mitchell would hit $485,000, giving the Stampeders a maximum savings of $40,000.

“I’m very pleased that Bo yet again has demonstrated a team-first mentality,” Stamps president and general manager John Hufnagel in a statement. “I look forward to seeing him continue his winning ways on the field.”

A native of Katy, TX, Mitchell is entering his 10th CFL campaign and 10th season in Calgary

He appeared in only 11 games last season, missing time with a broken fibula. He threw for 2,594 yards on 211-for-325 passing with 10 touchdowns and 13 interceptions.

“With the changing environment in the CFL over the past few years due to many circumstances, I understand that to have a winning team it is in my best interest to restructure my contract to allow us to re-sign Jake Maier, as well as other players,” Mitchell said in a statement. “Having another winning QB in the room will only make us stronger. My driving force still is and always will be, to be the best QB for the Calgary Stampeders that I can be and I look forward to a successful 2022 season.”

Mitchell has won the Grey Cup with the Stamps on two occasions, 2014 and 2018, and was named Grey Cup MVP on both occasions.