The Toronto Argonauts signed Chad Kelly to a five-year extension on Tuesday that will keep the star quarterback through the 2031 season.
The value of the deal is not yet known, but TSN Football Insider Dave Naylor reported Monday that Kelly was expected to reset the CFL quarterback market, adding that he had been seeking a deal worth in excess of just over $1 million per season.
The extension comes just ahead of the Argonauts hosting the Winnipeg Blue Bombers in the Eastern Semifinal on Saturday.
“I’m beyond thrilled to be signing back in Toronto long term,” Kelly said in a team release. “Before I ever came up here, I knew this was where I wanted to be—and when the time comes, this is where I want to finish my career. This city and this community mean so much to me.
“Toronto is where I met my wife, where I became a father to my son and daughter, and where my family and I have built a life together. This city gives me energy every single day—the energy to chase records, compete for championships, and keep pushing myself to be better.
“It’s also the city where I’ve chosen to start my foundation and continue giving back to the community that has given so much to me. I’m incredibly thankful and blessed to have this opportunity. I can’t wait to keep running out there, giving everything I have to the city I’m proud to call Toronto my home. Go Argos.”
Kelly, 32, is currently playing out the final season of a three-year, $1.865 million contract and became the highest-paid player in the CFL at the time of the signing.
The extension comes after Kelly decided to pause talks with the team in September to focus on the remainder of the season.
“After months of good-faith discussions, we’re going to allow Chad to focus entirely on football,” his representative Chris Lambiris told TSN’s Farhan Lalji last month. “Chad has tremendous respect for the Argos organization, his teammates, and especially the incredible Toronto fans who have supported him. He has made clear that he would welcome the opportunity to remain an Argo long-term, but at this point, the parties have been unable to reach an agreement that reflects that commitment.”
Kelly threw for 5,067 yards this season with 33 touchdowns to 24 interceptions. He did not play in Toronto’s final regular-season game Friday due to a knee injury.
Kelly was jogging in place on the sidelines during the game and did not appear to be in any significant discomfort. However, head coach Mike Miller did not provide any update in one direction or another after the 33-16 loss to the Montreal Alouettes.
He helped the Argonauts equal the most CFL regular season wins in league history during the 2023 campaign, when the team went 16-2 but fell in the East Final to the Montreal Alouettes.
After he was suspended nine games during the 2024 CFL season for violating the league’s gender-based violence policy, Kelly helped lead the team into the Grey Cup playoffs before sustaining a fractured right-tibia and fibula during the East Final. The Argonauts went on to defeat the Winnipeg Blue Bombers to win the Grey Cup but Kelly missed the entire 2025 season with the injury.