The Ottawa Redblacks and Edmonton Elks are showing "serious interest" in Jeremiah Masoli ahead of free agency, TSN Football Insider Dave Naylor reports.

Naylor adds that the price for the Hamilton Tiger-Cats quarterback should exceed $400,000 on the open market. 

The Tiger-Cats signed Dane Evans to a contract extension earlier this month after he and Masoli split time as the team's starter last year.

Masoli threw for 2,445 yards last season with 10 touchdowns to six interceptions. While Evans started the team's Grey Cup loss to the Winnipeg Blue Bombers, Masoli entered after an apparent injury. He finished 20-of-25 passing for 185 yards with two TDs and an interception. 

The 33-year-old is an eight-year CFL veteran, having spent his entire career in Hamilton. He was a CFL East All-Star in 2018.