As per the CFL transactions of November 25,2020, we had the names of the CFL veterans, per team, that had signed contracts for the upcoming 2021 season. Toronto had the highest number at 45 while Montreal had the lowest at 9. This definitely explain why Toronto had only 24 potential free agents while the average for the 8 other teams was 41, with Edmonton and Montreal the highest with 48 each.
In this off-season, we did read or hear that for the 2021 season the CFL teams will have to reduce their 2021 salary costs. For the 2021 season the maximum cap is at $5,350. millions while the minimum or floor is at $4,750. millions. The rumour has been that teams will have to spend in 2021, for players salaries, closer to the minimum cap than closer to the maximum cap. Taking into considerations salary provisions for players on 1 game injured lists and practice rosters, there is no way that a team can spend no more than $4,750. millions for players salaries in 2021. For me, a more realistic amount ranges between $4,950. millions and $5,1. millions.
The teams that had already signed players for 2021, signed them on the understanding that spending or committing to the cap max. of $5,350. was OK. They were not anticipating that some contracts would have to be restructured or reduced before beginning of season in order to reduce the 2021 salary costs of players.
While I do think that teams could always decide to work with the max. cap of $5,350. ,I am positive that most teams will do the outmost to reduce these costs in 2021, knowing that some players will be asked to accept reductions on their present signed contracts. Some players that refuse could be released.
From December 7,2020 to December 23,2020 inclusively, there have already been 45 players that have accepted to restructure their contracts that were signed for 2021. The numbers of players, per team, that have accepted restructurings are:
Edmonton: None so far.
Winnipeg: None so far.
Montreal: 2, including QB Vernon Adams JR.
BC: 3, including QB Mike Reilly.
Calgary: 4, including QB Bo Levi Mitchell.
Total of 45.
I am positive that more restructurings will occur in the next weeks.